ModaMortgages has cut rates by up to 10 bps across its range of buy-to-let (BTL) mortgages. The reduction means that its products now feature two-year fixed rates starting from 3.49%, with five-year fixes starting from 4.94%. The mortgages are available to a variety of landlords, including individuals, limited companies, those with small or large portfolios, first-time buyers and first-time landlords, with customers being able to choose a number of fee options, with LTVs of up to 75%.

Pepper Money has reduced the price on all of its mortgage products in its range of 20 bps. Following the continued gradual reduction in SWAP rates and the reduction in funding costs, culminating in the drop of the Bank of England base rate. Pepper Money has also cut the cost of products on its limited edition remortgage only offer, which features no upfront on Pepper 48 and Pepper 36 core and light ranges. As a result, the rates now start from 5.69% up to 75% LTV. In addition to having no upfront fees, the products also come with free valuations.

CHL Mortgages for Intermediaries has cut rates by up to 17 bps across its CHL 1 BTL mortgage range, which includes limited edition products. The lender’s CHL 1 range now starts from 2.67% and 4.56% for two- and five-year fixes, on a range of property types, from studio flats to HMOs with up to six bedrooms. CHL has also added three new products to its limited edition range, aimed at landlords looking to purchase or remortgages an HMO or MUFB of up to six bedrooms/units. Landlords can opt for a 3.5% or 5% fee options when choosing a two-year fix, or a 2% fee option when selecting a five-year fixed rate.

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