MT Finance has reduced its buy-to-let (BTL) mortgage rates by up to 1%.
The specialist lender cut rates on all of its 16 buy-to-let products, with immediate effect.
The lender now offers rates from 4.65% for 2-year fixed standard residential buy-to-let products.
Interest cover ratio (ICR) stress testing remains at 125% on 5-year products across all tax brackets.
MT Finance’s announcement followed an industry-wide trend, with many lenders slashing rates as the Bank of England’s Monetary Policy Committee continues to hold the base rate at 5.25% amidst falling inflation.
Marylen Edwards, head of lending – BTL at MT Finance, said: “I’m really pleased to announce that we are making reductions to the whole of our buy-to-let product range.
“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.”
