"In a market limited on options above 75% LTV, we’re delighted to be able to raise the roof with products up to 80% LTV with fee options."
- Darrell Walker, group sales director at ModaMortgages
ModaMortgages has raised the roof of its 80% LTV offering, launching eight new limited editions with reduced fee options.
Four new 80% LTV products have been added to its single dwelling range, including two-year and five-year fixed rates with a choice of a 3% or £1,999 fee.
The range also features four new 80% LTV small HMO and MUFB products, suitable for properties with up to six bedrooms/units. This includes two-year and five-year fixed rates with a choice of a 3% or £1,999 fee.
Landlords can borrow up to £750k - subject to affordability criteria and assessments - and mortgages are available to various customers, including individuals and limited companies.
The lender also offers free valuations across its entire range, supplied by Gateway Surveyors.
Darrell Walker, group sales director at ModaMortgages (pictured), said, “In a market limited on options above 75% LTV, we’re delighted to be able to raise the roof with products up to 80% LTV with fee options.
“With a choice of either a 3% or £1,999 fee, these products are designed for landlords looking to pay more upfront to benefit from lower fees further down the line and could be ideal for those wanting to raise capital for property improvements or remortgaging after changes.”
Earlier this month, ModaMortgages expanded its buy-to-let (BTL) offering with eight new limited editions, while reducing rates by up to 15 basis points on four existing products.
READ MORE: ModaMortgages expands buy-to-let range with new products and rate cuts
This update boosts product options for landlords, including both individuals and limited companies.
