ModaMortgages has launched eight new limited edition products, raising the maximum loan-to-value (LTV) to 80%.
The lender has added four new 80% LTV products to its single dwelling range, offering 2-year fixed rates starting from 4.54% with a choice of a 3% or £1,999 fee, and 5-year fixed rates from 5.34% with the same fee options.
ModaMortgages has also introduced four 80% LTV products for small houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs), suitable for properties with up to six bedrooms or units.
These include 2-year fixed rates from 4.64% and 5-year fixed rates from 5.44%, both with a choice of a 3% or £1,999 fee.
Landlords can borrow up to £750,000, subject to affordability criteria.
The products are available to individual landlords and limited companies.
Free valuations are provided across all products through Gateway Surveyors.
Darrell Walker, group sales director at ModaMortgages, said: “In a market limited on options above 75% LTV, we’re delighted to be able to raise the roof with products up to 80% LTV with fee options.
“With a choice of either a 3% or £1,999 fee, these products are designed for landlords looking to pay more upfront to benefit from lower fees further down the line and could be ideal for those wanting to raise capital for property improvements or remortgaging after changes.
