Molo has cut rates on its buy-to-let range by up to 20 basis points today, while Aldermore will be making reductions tomorrow.
Molo’s rate cuts relate to its buy-to-let range for UK resident borrowers, but rates on specialist investor products for multi-unit freehold blocks, houses in multiple occupation, new build and expats remain unchanged.
Rates for UK resident buy-to-lets now start from 3.25% for a two-year fix and 4.85% for a five-year fix.
Molo distribution director Martin Sims says: “By reducing our rates, we are giving intermediaries even stronger options to support their clients, whether they are growing their portfolios or securing their first investment property.”
Aldermore is set to lower rates across its buy-to-let range with full details to follow tomorrow.
The reprice will include reductions to limited edition five-year fixes.
Following the changes, rates will start from 4.54% for multi-property five-year deals.
It is also trimming costs for residential owner occupiers with two-year fixed rates starting from 5.74% and five-year fates from 5.44% at 75% LTV as of tomorrow.
Reduced special edition two-year fixed buy-to-let rates will start from 6.19%, with no product fee, up to 70% LTV.
