Mortgage lenders make more offers to woo landlord borrowers

The mortgage market is becoming increasingly competitive for landlords who want to take advantage of offers as the economy comes out of the pandemic.

For example, the Nottingham Building Society is now offering 65 per cent Loan To Value buy to let fixed rate products for incorporated landlords running limited companies.

The mutual has announced four new two and five-year fixed mortgages, all with free valuations.

Two-year fixed products available include one priced at 3.10 per cent (with a £999 fee) and 3.40 per cent (no fees) and five-year offerings at 3.30 per cent (again with a £999 fee) and 3.50 per cent (no fee).

Nikki Warren-Dean, the society’s head of intermediary sales, said: “We’re pleased to introduce such competitive products to landlords who want to put down bigger deposits.

“We aim to keep developing our mortgage products so they provide choice and cater for all, which fits with The Nottingham’s ethos of helping as many people as possible have a roof over their heads.”

Meanwhile, Accord has this week introduced new products for landlords.

The new range is available up to 80 per cent Loan To Value and includes a two-year fixed rate at 3.37 per cent - down from its previous 3.64 per cent - for remortgage clients, which comes with a £995 fee, £250 cashback, remortgage legal service and free standard valuation.

Simon Garner, Accord Buy To Let product manager says: “We’re pleased to offer this new range which offers even better value to landlords. We hope that, with a variety of initial fixed terms, LTVs and incentives, this combination of benefits will really appeal to brokers and their clients looking for the best option to suit their individual buy to let requirements.”

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