Specialist lender Together has reduced rates on its 2- and 5-year fixed rate buy-to-let mortgage products, effective immediately.
The rate reduction is by 26 basis points across all buy-to-let first and second charge products. For first charge 5-year fixed mortgages, rates will now begin at 7.99%, while second charge starts from 8.99%.
2-year fixes are starting at 8.99%, with second charge loans at 9.99%. These revised rates apply to a range of properties, including standard residential investments, holiday lets, and Houses in Multiple Occupation (HMOs).
This adjustment follows the Bank of England’s recent decision to maintain its base rate at 5.25%, after a series of increases that began in November 2021.
Marc Goldberg (pictured), CEO of sales and distribution at Together, said: “We’re really pleased to be able to offer our intermediary partners and customers our new, lower-rate deals from today. We’re starting to see some confidence and stability return to the mortgage and property markets after a long period of uncertainty.”
He also noted that the buy-to-let sector is becoming increasingly attractive due to rising rents and sellers lowering their asking prices. “There are huge opportunities for a new breed of landlord,” Goldberg added. “We’ve supported landlords throughout our business’s 50-year history and will continue to support existing customers.”
The new rates are available for quotes or requotes made on or after today, with applications at the previous rate needing to be funded by 27th October.
