Lendco launches new five-year fixed-rates

The core product suite remains unchanged aside from the inclusion of two two-year fixed-rate products.

The new range is available at up to 75% LTV with a tiered fee structure to promote maximum leverage, in order to meet the needs of experienced portfolio landlord borrowers.

There is a limited amount of funding available at these rates, so borrowers will be able to secure them on a first come, first served basis.

Highlights of the new five-year fixes include:

• A 5.99% rate with 6% fee
• A 6.19% rate with 5% fee
• A 6.59% rate with 3% fee
• A 6.79% rate with 2% fee

 

Alex King, executive director of Lendco, said: “After what has been a very trying period of constant rate rises, we spotted an opening which enabled us to release these products.

“While they are limited-edition [products], we feel they offer an opportunity to those borrowers who have thus far been reluctant to commit to a fixed rate in the hope of seeing interest rates drop.”