Several buy to let lenders have rolled out updated borrowing choices aimed at supporting landlords with lower fixed mortgage rates and improved options.
Dudley Building Society has introduced a selection of locked-in interest periods for two and five years covering BTL, holiday lets and expat deals.
Highlights include a BTL five-year fixed deal with 70% LTV at 5.95%, a holiday let five-year fixed offer at 70% LTV and a 6.10% rate.
The expat buy to let five-year fixed deal is also with 70% LTV and 6.40%.
The lender’s distribution director, Rob Oliver, said: “Brokers have been clear that they want more fixed-rate options they can rely on, especially for cases involving landlords, holiday lets and expat borrowers.
“With these new products, we’re making it easier for brokers to support their clients, keeping the process straightforward and free from unnecessary hurdles.”
BTL deal of the week
Skipton Building Society has caught the attention of Moneyfactscompare.co.uk as its buy to let deal of the week.
That’s for the lender’s 24-month adjustable tracker for rental properties at 60% loan-to-value, now at 4.86% following a slight upward adjustment of 0.14%.
The deal carries a £745 charge but includes no-cost property assessment and complimentary solicitor services for refinancers, plus allowance for extra payments.
Caitlyn Eastell, the spokesperson at Moneyfactscompare.co.uk, said: “This week, Skipton Building Society has lifted the rates on its entire buy to let mortgages, including its variable tracker rates.
“The two-year variable tracker option has seen a 0.14% hike and is now priced at 4.86% for second-time buyers and remortgage customers.”
Shawbrook expands BTL range
Meanwhile, Shawbrook has boosted its rental financing line-up with setup charges of 2%, 3% or 5%, paired with adjustable rates or locked ones spanning 2, 3, 5 or 10 years.
It has phased out limited-time specials to emphasise this wider array.
A revamped tool on its advisor portal now lets professionals sort by duration or charge, factoring in energy efficiency grades for precise reductions.
Costs have also dropped by as much as 0.40% on deals below £1 million.
Shawbrook’s director of real estate proposition, Daryl Norkett, said: “By expanding our product range and improving our terms, we’re making it simpler for landlords to secure the right financing for their property investments.
“Equally, our new Broker Hub Calculator will make it easier for brokers to compare these options and consider what best suits their individual customer’s needs.”
MFS unveils Core product
Finally, Market Financial Solutions has brought forward its Core Buy to Let, with its current BTL offeringrelabelled as Specialist Buy to Let.
The lender is emphasising quick processing and straightforward access for landlords and brokers.
The new offering rounds out its portfolio alongside bridging loans and Bridge Fusion range.
The lender’s chief executive, Paresh Raja, said: “The launch of the Core BTL range is another important step for us; the Core products are all about simplicity and ease-of-access for landlords, and they will perfectly complement the Specialist BTL range, which is there to cater to all types of BTL borrower.”
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