Molo has announced that it has reduced pricing across its UK resident buy-to-let products, cutting rates by up to 10 basis points on its standard range and 5 basis points on specialist products. The specialist mortgage lender for UK and overseas landlords made the changes effective immediately.
New buy-to-let rates start from 2.44% for a two-year fixed product, available to both individuals and limited companies at 75% loan-to-value. Five-year fixed rates begin at 4.24%.
Specialist product rates, covering HMOs, portfolio landlords, new builds and holiday lets, now start from 2.70% for two-year fixed rates and 4.49% for five-year fixed products. The lender charges no premium for larger properties with six or more rooms or units.
Rates for non-UK residents and expat borrowers remain unchanged at 5.84% and 4.75% respectively.
"As rates settle, we intend to maintain a competitive stance. These cuts are intended to demonstrate our commitment to remain responsive to ever-changing market conditions. Our simple aim is to make it easier for intermediaries to place client business," said Martin Sims, distribution director at Molo (pictured).
