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

Rely and ModaMortgages Launch New Buy-to-Let Portfolio Products

Rely has introduced a limited-edition buy-to-let mortgage range for landlords with 11 or more properties, with rates starting from 3.92%. ModaMortgages has expanded its limited-edition range by adding new fixed-fee options of £7,499 and £9,999, as well as a 7% fee product.

Rely’s new large portfolio loans offer rates up to 40 basis points lower than comparable products in its standard range. These products are available as two- and five-year fixed rate options with a 5% fee at 75% loan to value (LTV). In addition, Rely has launched low-LTV products for portfolio landlords with four or more mortgaged properties, available at 60% and 65% LTV, with discounts of up to 15 basis points on two- and five-year fixed rate options compared to standard products.

ModaMortgages’ expanded limited-edition range now includes fixed-fee options of £7,499 and £9,999, alongside existing 2% and 5% fee options, and a new 7% fee product. The lender is offering two- and five-year fixed rate products with rates starting from 3.69% for single dwelling properties and 3.79% for houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs) with up to six bedrooms or units. These products are available to both individual and limited company landlords up to 75% LTV, and all come with no application or valuation fees.

These developments may be of interest to UK letting agents and inventory clerks working with portfolio landlords seeking new mortgage options for larger property holdings.