ModaMortgages expands 80% LTV range

ModaMortgages has expanded its 80% LTV range, adding eight new products catering for both single dwelling properties and those looking to purchase HMOs and MUFBs.

Borrowers can select between two- and five-year fixed rate products, with a choice of 2% and 5% product fees and free valuations available on all property types, including HMOs and MUFBs.

With HMOs and MUFBs, these products apply to properties with up to six bedrooms or units.

Product fees can be added to the loan amount up to 80% LTV, while pound-for-pound remortgages on two-year fixed rate products are stressed at pay rate up to 80% gross LTV.

“For landlords, having that extra capacity can make a real difference,” said Becki Fraser-Tucker, head of sales atModaMortgages (pictured above).

“It could mean getting that next purchase over the line sooner, keeping more cash back for improvements or having the flexibility to take the next step in growing a portfolio.

“We want to help brokers find solutions for more of their landlord clients, and adding these new products makes our 80% LTV offering stronger than ever.”