The products are available for single dwelling and house in multiple occupation (HMO) properties. There are eight deals, including two-year fixes starting at 3.24% for single dwellings or 4.69% for a five-year fix. The products come with either a 3% or 5.5% fee.
For small HMO and multi-unit freehold block (MUFB) properties with up to six bedrooms or units, two-year fixed rates start at 3.35% and five-year fixed rates from 4.79%. These also have the option of a 3% or 5.5% product fee.
ModaMortgages will lend to individual and limited company landlords, with free valuations and no application fees.
Darrell Walker (pictured), group sales director at ModaMortgages, said: “With interest rates remaining stubbornly high, landlords may be searching for ways to keep the costs down when purchasing a new rental property.
“Our new limited-edition 75% LTV range offers rates up to 25bps cheaper than our core products, as well as free valuations and no application fees, and could be ideal for investors looking for help with affordability.”
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Earlier this month, the firm lowered BTL rates by up to 15 basis points.
