ModaMortgages has expanded its 80% loan-to-value provide, by launching a spread of restricted version merchandise with a 5% payment choice.
The broker-only landlord lender will add two new 80% LTV merchandise to its single dwelling vary, together with a two-year fastened charge at 3.59% and a five-year repair at 4.99%, each with a 5% payment choice.
It provides that the vary additionally options two new 80% LTV small homes in a number of occupation and multi-unit freehold block merchandise, appropriate for properties with as much as six bedrooms or items, together with two-year fixes at 3.69% and five-year fixes at 5.09%, each with a 5% payment choice.
The most mortgage measurement is £750,000, with merchandise accessible to particular person landlords and restricted corporations.
The agency additionally provides free valuations throughout its whole vary, together with on its new restricted version merchandise.
ModaMortgages group gross sales director Darrell Walker says: “This newest restricted version launch is an extra demonstration of our dedication to making sure brokers and their purchasers have as a lot selection as potential.
“This new 5% choice, together with the latest introduction of three% and £1,999 choices, offers landlords the prospect to discover new alternatives in a market restricted with choices above 75% LTV, notably if you think about permitting the borrower so as to add the payment to the mortgage, even at 80% LTV.”
