Modamortgages has launched eight new limited editions of 75% Loan-to-value (LTV) single-home and multiple careers (HMO) products.
The fixed interest rate for new products starts at 3.24%, and the fixed interest rate starts at 4.69%, with a choice of 3% or 5.5% product charges.
Its small HMO and MUFB products are priced for properties with up to six bedrooms or units, with fixed rates at two-year fixed rates starting at 3.34% and five-year fixed rates starting at 4.79%, with 3% or 5.5% product charges available.
Various landlords, including individuals and limited liabilities, can be mortgaged, lenders offer free valuations, and there is no application fee throughout the entire range.
“Darrell Walker, group sales director at Modamortgages, said: “Due to interest rates remaining stubborn, landlords may be looking for ways to reduce costs when buying new leased properties.”
“Our new limited edition 75% LTV series is priced up to 25bps cheaper than our core products, along with a free valuation, no filing fees, and is ideal for investors looking to help with affordability.”
Earlier this month, Chetwood Bank announced that it would combine its Modamortgages and CHL mortgages for the sales force of intermediaries.
