One debuts new products, another offers cashback, two cut rates
Several lenders have introduced new mortgage products and rate reductions, offering landlords and brokers more competitive options in the buy-to-let market.
Fleet Mortgages has launched a new range of two-year tracker products available up to 75% loan-to-value (LTV) for standard, limited company, and house in multiple occupation (HMO)/multi-unit block (MUB) borrowers.
The products are priced at the bank base rate (BBR) plus 0.49% (currently 4.99%) for standard and limited company borrowers, and BBR plus 0.89% (currently 5.39%) for HMO/MUB. The products come with early repayment charges (ERCs) of 1% in the first year and 2% in the second year, with a product end date of April 30, 2027.
“This month’s decision to cut BBR, with the anticipation of potentially more rate cuts to come, means that a number of landlord borrowers might prefer a shorter-term tracker rate, especially if the Bank of England does choose to cut further, perhaps multiple times over that period,” said Steve Cox (pictured far left), chief commercial officer at Fleet Mortgages.
Meanwhile, Keystone Property Finance has introduced a limited edition cashback offer, providing landlords with up to £3,500 upon completion of their loans.
The cashback amount is tiered based on loan size, starting at £250 for loans between £50,000 and £125,000 and rising to £3,500 for loans between £1 million and £2.5 million. The offer applies to both two- and five-year fixed rate products across standard properties, HMOs, and multi-units.
We’re excited to announce the launch of our BRAND NEW Cashback product range, available from TODAY on new applications.
— Keystone Property Finance (@KeystonePF) February 18, 2025
This range is offered on 2 and 5 year fixed rates for standard properties, HMOs, and multi-units (up to 6 occupants/units). pic.twitter.com/agdhOG9C6s
“We’re excited to unveil our limited edition cashback offer, providing landlords with up to £3,500 back upon completion, easing the burden of upfront costs associated with buying or refinancing their portfolios,” said Elise Coole (pictured second from left), managing director at Keystone Property Finance.
Digital mortgage lender Molo Finance has announced a 12-basis point reduction on its two- and five-year fixed BTL rates for UK residents. Standard BTL rates now start at 3.13% for individual and limited company borrowers, while specialist BTL products, including HMO, multi-unit freehold blocks, investor-led, and new-build properties, now start at 3.38%. Rates for non-UK residents and expats remain unchanged.
We have reduced our BTL rates again. 🚀 Now’s the perfect time to offer your clients more competitive rates with a two-year fixed starting from 3.13%.
— Molo (@molofinance) February 18, 2025
More details ➡️ https://t.co/HV16SgQLgb #mortgagenews #molofinance #mortgagelender #buytolet #ukmortgages #mortgagerates pic.twitter.com/yTvoxca36u
“This latest rate reduction reinforces our commitment to remain competitive and demonstrates a prompt response to the improving market conditions,” said Martin Sims (pictured second from right), distribution director at Molo Finance.
Suffolk Building Society has also cut rates by up to 24 basis points across 14 fixed rate products, including BTL, holiday let, and expat mortgage ranges.
“In addition to lowering our rates across many two- and five-year fixed-rate products, we’re continuing to work on innovative criteria changes to further strengthen our proposition,” said Charlotte Grimshaw (pictured far right), head of intermediaries at Suffolk Building Society.
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