Molo has cut its BTL rates across both standard and specialist ranges, with immediate effect.
Rates have been cut by up to 10bps on its standard range with two-year fixed-rates available from 2.44%. Five-year fixed-rates start at 4.24%.
Elsewhere, the lender has trimmed rates by 5bps on its specialist range which includes mortgages for HMOs, portfolio landlords, new builds and holiday lets.
Products in this range now start from 2.7% and 4.49% for two and five-year fixed-rates, respectively.
Rates for non-UK residents and expat borrowers are unchanged at 5.84% and 4.75% across these timeframes.
“As rates settle, we intend to maintain a competitive stance and these cuts are intended to demonstrate our commitment to remain responsive to ever changing market conditions,” said Martin Sims, distribution director at Molo (pictured above).
“Our simple aim is to make it easier for intermediaries to place client business.”
