Average landlords are earning £4,000 less a year per property compared to 2020 due to high interest rates
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Average landlords are earning £4,000 less a year per property compared to 2020 due to high interest rates
Alongside the rate reductions, the lender has also announced the launch of a new two-year, fixed-rate product for Professional borrowers.
The specialist lender has also launched a new limited edition buy-to-let product on a 5-year fixed term of up to 65% LTV.
According to the lender, the new product has been launched to help property investors ride out a period of uncertainty in the market.
The lender has also announced a series of rate cuts across its existing five-year fixes
New rates include 2-year fixed from 4.55% and 5-year fixed from 5.06%
The changes improve on the previous maximum allowance of four storeys
The lender has also widened its acceptable criteria on buy-to-let properties
Rates now start at 4.24% at 75% LTV with a 6% fee
Rates to start from 2.87% following the cuts which come amid a number of criteria enhancements.
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