It reduces rates by up to 1%
Specialist finance lender MT Finance has reduced rates on every one of its 16 buy-to-let mortgage products by up to 1%.
With the rate cuts effective immediately, the lender now offers rates starting from 4.65% for two-year fixed standard residential buy-to-let products. ICR stress testing remains at 125% on five-year products across all tax brackets.
Full details of the new rates can be found on the lender’s updated buy-to-let product guide.
MT Finance said its decision to slash rates follows an industry-wide trend, with many lenders reducing rates as the Bank of England continues to hold the base rate at 5.25% amid falling inflation.
“I’m really pleased to announce that we are making reductions to the whole of our buy-to-let product range,” Marylen Edwards (pictured), head of BTL lending at MT Finance, said. “We are acutely aware how hard the last year has been for landlords and investors, and we hope that the latest changes will help to alleviate some of the many pressures they’re facing.
“As always, we are continuing to monitor our products, ensuring that we can deliver the very best for our customers.”
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