This includes a five-year fix at 75 per cent loan to value (LTV) which has gone down from 5.76 per cent to 5.66 per cent, while the HMO option has been cut from 5.96 per cent to 5.86 per cent. Both have a five per cent fee.
Steve Griffiths, chief commercial officer at The Mortgage Lender, said: “With costs still high across the board, we understand that landlords and brokers are looking for the best options to suit their needs when purchasing a new buy-to-let property or remortgaging their current portfolio. We’re pleased to announce rate reductions across some of our buy-to-let product range to meet this demand.
“With many landlords preparing to remortgage in the next year, and others making the most of decreasing house price growth to expand their portfolios, we’re committed to offering competitive deals for landlords and our brokers partners, and ensuring they can fulfil their property ambitions.”
The changes apply from today.
Principality BS cuts pricing
Principality Building Society will be reducing rates across residential and holiday let mortgages on 15 September.
The largest reductions will be made to two and five-year fixes at 95 per cent LTV and two-year fixes at 90 per cent LTV, where pricing will fall by as much as 0.36 per cent.
Cuts of up to 0.3 per cent will be made to two and three-year fixed rates at 75 and 85 per cent LTV, while reductions of up to 0.21 per cent will apply to two-year fixed products at 80 per cent LTV.
Within its holiday let offering, the mutual will lower five-year fixed rates at 60 and 75 per cent LTV by up to 0.23 per cent.
For example, its two-year fix at 75 per cent LTV has a rate of 5.64 per cent and a two-year fix at 90 per cent LTV priced at 5.83 per cent.
Current products will be removed at 8pm on 14 September.
