MFS has reduced rates across its BTL mortgage product range.
Following the changes, the lender’s interest-only two-year tracker product — available at maximum 75% LTV with a 2% fee — is now available at 3.99% + BBR for its Tier 1, going up to 4.79% + BBR for its Tier 2; 5.29% + BBR for its Tier 3; and 5.79% + BBR for Tier 4.
In addition, rates for its special edition two-year tracker BTL products now start from 1.89% + BBR for the 6% fee option, and 2.89% + BBR for the 4% fee product.
The specialist lender also reduced rates across its residential bridging range.
Paresh Raja, CEO at MFS (pictured above), said: “We are kickstarting 2024 with new and improved rates, supporting brokers and their clients as they embark on their property investment plans for the year ahead.
“Reducing rates is just part of the picture, however; flexibility remains equally important — we will continue to deploy various methods to enable borrowers to get their optimum loan sizes and repayment structures.
“At MFS, we’re confident that the property market will continue to demonstrate great resilience and experience significant demand in 2024, and we’ll continue to strive to deliver the very best products and service to brokers seeking out bridging loans and BTL mortgages.”
