
ModaMortgages cuts rates across limited edition 5-year fixed range
5-year fixed rate products now start from 5.04% for single dwelling properties and from 5.14% for HMO and MUFB properties with up to six bedrooms or units.

5-year fixed rate products now start from 5.04% for single dwelling properties and from 5.14% for HMO and MUFB properties with up to six bedrooms or units.

All new customers will now get a tailored rate reduction between 0.01% and 1.00%.

From 8am tomorrow, 6th August, rates will cut by 0.10% across its buy-to-let (BTL) range at 80% loan-to-value (LTV).

From tomorrow, 4th August, rates will reduce by up to 0.19% across 2-, 3- and 5-year fixed rate products for both new and existing customers.

The lower rates are aimed at helping developers and investors refinance or exit completed or nearly completed schemes.

The changes apply to landlords looking to buy or remortgage single self-contained properties, HMOs and multi-unit blocks (MUBs).

The lender is now offering the F1, £4£ remortgage and HMO 2-year fixed products again along with a new HMO Green 5-year fixed.

TML cut rates by up to 0.25% on selected 2- and 5-year fixed products, with rates starting from 5.69% for the RL0 75% LTV 2-year fixed.

The lender has also reduced rates by up to 0.50% on its commercial trading mortgage range for selected 2-, 3- and 5-year fixes.

The new rates are available now across all residential, Shared Ownership, Right to Buy and Help to Buy products.

Properties worth between £70,000 and £75,000 can now access a maximum loan-to-value (LTV) of 75%.

The changes, effective from 9th July, affect both remortgage and purchase products.
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