Specialist lender ModaMortgages has announced the launch of a collection of new limited-edition 75% loan-to-value (LTV) single-dwelling and houses in multiple occupation (HMO) products.
The collection of eight products includes single dwelling 2-year fixed rates starting from 3.24% and 5-year fixed rates from 4.69%, with a choice of either a 3% or 5.5% product fee.
Rates for its small HMO and MUFB products, which are suitable for properties with up to six bedrooms or units, feature 2-year fixed rates from 3.34% and 5-year fixed rates from 4.79%, again with a choice of either a 3% or 5.5% product fee.
Mortgages are available to a variety of landlords, including individuals and limited companies, and the lender offers free valuations and no application fees across its entire range.
“With interest rates remaining stubbornly high, landlords may be searching for ways to keep the costs down when purchasing a new rental property," comments ModaMortgages’ Group Sales Director Darrell Walker (pictured). “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.”
