Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.

ModaMortgages Cuts Rates on Limited Edition Buy-to-Let Mortgages

ModaMortgages has announced reductions across its limited-edition buy-to-let mortgage range, affecting both two- and five-year fixed-rate products. The changes include lower rates for standard properties, small Houses in Multiple Occupation (HMOs), and Multi-Unit Freehold Blocks (MUFBs).

The lender has reduced five-year fixed rates at 75% loan-to-value (LTV) by 10 basis points, and five-year 80% LTV standard products by 5 basis points. Rates now start from 4.84% for standard properties and 4.94% for small HMOs and MUFBs.

For two-year fixed products, rates at 75% LTV for both standard properties and small HMOs and MUFBs have been reduced by 5 basis points. The starting rates are now 3.29% for standard properties and 3.39% for small HMOs and MUFBs.

ModaMortgages continues to offer free valuations and no application fee across its limited-edition buy-to-let range. These products are available to both individual and limited company landlords, with loans up to 80% LTV.

These changes may be of interest to UK letting agents and inventory clerks working with landlords seeking competitive buy-to-let mortgage options for standard properties, HMOs, and MUFBs.