Family Building Society has made a 0.30% reduction on its buy-to-let (BTL) product.
The new 5-year fixed rate product now has a rate of 4.59%.
Key features of this product include a maximum loan-to-value (LTV) of 65% (up from 60%), a minimum loan of £45,000 (previously £100,000), and a maximum loan of £750,000 (previously £600,000).
There are no application or product fees, a free valuation up to £500,000 (discounted thereafter), and £500 cash back available for remortgages.
The society also withdrew its 60% LTV limited company 5-year fixed rate product without a replacement.
Darren Deacon, head of intermediary sales at Family Building Society, said: “The launch of this new, enhanced buy to let product for UK landlords comes at a time when the rental market is facing many challenges.
“This competitive five-year fixed rate product will be a welcome boost to those landlords looking for financial certainty over the medium term.”
