ModaMortgages, Keystone Property Finance and Zephyr Homeloans have all announced rate cuts across their buy-to-let mortgage products, reflecting increased competition among lenders targeting property investors.
ModaMortgages has reduced rates by up to 20 basis points, with two-year fixed products now starting from 3.39% and five-year fixes from 4.89%. The lender’s range is open to individuals, limited companies, first-time landlords and portfolio investors, with loan-to-value (LTV) ratios up to 75%.
The changes follow the launch of £0 and 3% product fee options on Moda’s limited edition range, alongside free valuations and no application charges.
Keystone Property Finance has also cut rates by up to 10 basis points across all two-year products and most five-year deals. Standard products now start from 3.14% at 70% LTV, with specialist products beginning at 3.19%. Expat, holiday let and cashback options are also included in the reductions.
In addition, Zephyr Homeloans has announced rate reductions across its buy-to-let range, cutting all two-year fixed rates by 20 basis points and five-year fixed rates by 5 basis points.
The lender is offering a range of products for properties with EPC ratings of A to C, and fixed-rate products are also available with 0% and 3% fee options.
For example, rates start at 2.94% for a two-year fixed standard mortgage at up to 65% LTV, or 3.09% for a two-year fixed mortgage for HMOs and MUFBs. Equivalent five-year products are available from 4.64% and 4.74% respectively, all with a 7% fee.
Rates for properties with EPC ratings of D or E are slightly higher, starting at 3.04% for two-year standard products and 3.19% for HMOs and MUFBs, with five-year equivalents from 4.69% and 4.79%.
Andrew Rowe, head of sales at Zephyr Homeloans, said: “We’re pleased again to be able to provide reductions for brokers to offer to their landlord customers.”
