ModamortGages reduces its ratio by up to 15 basis points in homes in selected 75% Loan Price (LTV) standards and multiple occupations (HMO) and multi-unit freehold Block (MUFB) purchase (BTL) products.
The lender’s scope includes a standard two-year fixed rate 75% LTV product at 3.44% and a standard five-year fixed rate of 75% LTV product at 4.94%.
Its small HMO and MUFB products are priced for properties with up to six bedrooms or units and now have a fixed rate of 75% LTV products at 5.04% at 3.54% and a fixed rate of 75% LTV products at 5.04%.
“We are pleased to announce that we are able to further support the landlords with a 75% reduction in interest rates of 15bps LTV BTL products,” said Darrell Walker, Group Sales Director, Modamortgages.
“This latest reduction shows how much we are working to ensure brokers have the products they need to help customers buy to make wishes enjoyable.”
Landbay has a price of up to 0.15% in its popular non-portal product range.
These reductions can be used for five-year fixed-rate products that are not archive standards and AVM-supported.
Lenders have also added five-year fixed-rate options to the range, up to 55% LTV, with an interest rate of 4.84% and a 3% product fee.
In addition, there is a new standard five-year fixed rate option that can also reach up to 55% of the LTV, with a price of 4.39%.
Product highlights include a five-year fixed rate of 4.29% for AVM and 75% LTV, a 5-year fixed rate of 6%, non-amplifier standard and 75% LTV, a 5-year fixed rate of 5.09% for AVM and 2%.
There is also a non-area standard five-year fixed rate at 55% LTV with a fixed rate of 4.84% and 3% charge, and a standard five-year fixed rate at 55% LTV with a fixed rate of 4.39% and 6% charge.
“After new innovations in our product transmission range, it’s great to lower market prices and new products within our popular non-port range,” said Rob Stanton, Director of Sales and Distribution at Landbay.
“This is an important part of the market that absolutely needs lending support, so it’s great to be able to further help our broker partners to meet this growing demand.”
yesterday, Monetary facts show that average mortgage rates fell much more than last monthalthough overall mortgage choices decline slightly, the average shelf life of mortgages declined.
