Rates Round Up

A number of lenders have reduced their buy-to-let mortgage rates over the last few weeks, with rates cut by up to 0.8%.

Virgin Money has cut rates across its buy-to-let range, and offers a two-year fixed rate deal at 4.24% with a 25% deposit, with no product fee. It is also offering a two-year fixed rate deal with a 25% deposit at 3.10%, but this comes with a £1,995 product fee.

The lender also has a five-year fixed rate mortgage at 4.34% for landlords with a 40% deposit with no product fee, and a two-year tracker mortgage at 2.59% with a 30% deposit and a £995 product fee.

Elsewhere, Barclays has also cut its buy-to-let rates, including a two-year fix at 2.69% with a 40% deposit, and a 3.19% two-year deal for those with a 25% deposit. Both products come with an application fee of £1,999 for loans up to £500,000.

For first-time landlords, NatWest is currently top of the best buy tables, according to comparison website Moneyfacts. The lender is offering 3.29% for two years for new landlords with a 40% deposit.  There is no product fee.

For information about available rates, contact your existing lender or your mortgage adviser.

Natalie Holt