Please Note: This Article is 7 years old. This increases the likelihood that some or all of it's content is now outdated.

Lenders are trying to lure landlords with buy to let mortgage rate cuts and new fixed rate deals.

Several banks have shaved interest rates and launched new mortgages – and some are looking for niche markets like professional landlords who earn a living from renting property.

The latest lender to expand buy to let offers is Shawbrook Bank with buy to let mortgages starting with rates at LIBOR plus 3.59%.

Shawbrook has new products for properties valued between £75,000 and £500,000 up to 75% loan-to-value. The mortgage is a 12 or 24 month fixed rate with a 1% early repayment charge

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Shawbrook Bank’s Stephen Johnson said: “Shawbrook is a specialist lender working on cases that require a human approach and pragmatic underwriting.”

More about Shawbrook Bank buy to let mortgages

Metro Bank wants to sign up professional landlords with portfolios of 25 or more letting properties.

With two new buy to let deals – a 4.89% two-year tracker and a five-year fix at 5.25% – Metro Bank will lend on up to 10 homes at a time, providing borrowing is capped at £2.5 million at 65% portfolio loan-to-value (LTV).

Companies as well as sole traders are invited to apply.

Metro Bank buy to let web site pages

Virgin Money has cut buy-to-let loan rates and is offering a two-year 2.99% fixed rate at 60% LTV with a £2,495 fee, while another two-year fixed rate at 60% LTV comes at a reduced interest rate of 3.38% with a £1,995 fee.

The lender will pay a £750 cash back to direct customers.

Virgin Money buy to let mortgage information

BM Solutions has shaved 0.2% from interest rates on two-year fixed and tracker buy-to-let loans up to 75% LTV and 0.1% from two-year fixed rate 60% LTV deals.

Fixed rates start from 3.99% and tracker rates from 3.89% at 75% LTV.

The lender has new two-year fixed and tracker deals for properties worth more than £200,000 at 60% LTV and 75% LTV with a £1,295 fee and interest rates from 3.19%.

More about BM Solutions buy to let mortgages

Please Note: This Article is 7 years old. This increases the likelihood that some or all of it's content is now outdated.
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