July 4, 2024 12:51 pm

Insert Lead Generation
Nikka Sulton

Several buy-to-let lenders have recently adjusted their rates in response to heightened competition in the market. Accord, for instance, has introduced reduced rates for new buy-to-let borrowers across various products. They have lowered two-year fixed rates by 0.05% to 0.40%, aiming to attract landlords with more competitive offerings. Additionally, three-year fixed rates have seen decreases ranging from 0.10% to 0.20%, while Accord’s two-year tracker rates have been adjusted down by 0.05%.

This move by Accord underscores the ongoing efforts within the buy-to-let sector to appeal to landlords seeking better financial terms. As competition intensifies, these rate reductions are positioned to not only attract new borrowers but also retain existing clients by offering more affordable borrowing options in a competitive market environment.

Accord has recently made strategic reductions across its buy-to-let (BTL) mortgage offerings, applying these changes to its entire new business range except for products with an 80% loan-to-value ratio. This initiative aims to attract new borrowers by lowering two-year fixed rates, with reductions spanning from 0.05% to 0.40%. Additionally, three-year fixed rates have been adjusted downward by 0.10% to 0.20%, and two-year tracker rates now feature a reduction of 0.05%.

In a similar effort to enhance affordability and appeal to landlords, LendInvest Mortgages has followed up on previous rate cuts with additional reductions on selected five-year rates. These adjustments amount to up to 0.10% lower, bringing rates down to a competitive starting point of 4.99%. This move underscores LendInvest’s commitment to offering competitive financing options tailored to the needs of property investors in today’s competitive market.

Meanwhile, West One has introduced new rate changes aimed at broadening its BTL mortgage range, starting at 3.09%. This range caters comprehensively to various borrower profiles, including first-time landlords, individuals with impaired credit histories, and portfolio investors looking to borrow significant sums up to £10.5 million. The offerings are diverse, encompassing solutions for houses in multiple occupations (HMOs), multi-unit freehold blocks (MUFBs), holiday lets, former local authority properties, let-to-buy arrangements, and expatriate borrowers.

The adjustments made by these lenders highlight their proactive approach to supporting property investors amid evolving market conditions. By lowering rates and expanding product options, lenders like Accord, LendInvest Mortgages, and West One aim to meet the growing demand for flexible and affordable financing solutions in the buy-to-let sector.

Overall, these developments reflect a competitive environment where lenders are vying to attract landlords with competitive rates and tailored mortgage products. This competition benefits landlords seeking financing solutions that meet their specific needs while navigating the complexities of property investment in today’s economic landscape.

Foundation Buy to Let, part of Foundation Home Loans, has launched a new product aimed at clients in its F1 tier, tailored for those with a nearly spotless credit history. This Limited Edition five-year fixed-rate product offers competitive terms, including a 5.59% interest rate and requires a 2.25% fee, available up to 75% loan-to-value (LTV). This move aims to attract landlords looking for stability and affordability in their mortgage options.

Simultaneously, The Mortgage Works has announced significant rate reductions across selected buy-to-let (BTL) products, benefiting both new and existing customers alike. For new business, these adjustments include a two-year fixed-rate option for BTL purchases and remortgages, now set at 3.69% with a 3% fee, applicable up to 65% LTV, marking a reduction of 0.10%. Additionally, a five-year fixed-rate option for BTL purchases and remortgages is now available at 4.04%, also with a 3% fee and up to 65% LTV, reflecting a similar rate decrease.

Foundation Buy to Let’s new product not only aims to meet the financial needs of landlords but also underscores their commitment to providing accessible and competitive mortgage solutions. With a focus on clients with a strong credit profile, the product’s introduction reflects the ongoing efforts within the BTL market to cater to diverse borrower needs while maintaining affordability and reliability.

Meanwhile, The Mortgage Works’ rate cuts signal a proactive approach to supporting both current and prospective BTL investors amid evolving market conditions. By reducing rates across key product offerings, the lender aims to enhance affordability and attract landlords seeking stable financing options in a competitive lending environment.

Both Foundation Buy to Let and The Mortgage Works are positioning themselves strategically in the BTL sector, leveraging competitive rates and tailored product offerings to attract and retain landlords amidst fluctuating market dynamics. These initiatives highlight their commitment to meeting the evolving needs of property investors while navigating the complexities of the current economic landscape.


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