Barclays has expanded its buy-to-let mortgage range by allowing landlords to take out a mortgage fixed for 10 years.
The product is priced at 2.75% to 75% LTV and comes with a fee of £1,795.
Long-term fixes are suitable for landlords that want certainty about the cost of payments in the years ahead, regardless of whether the Bank of England base rate rises.
In all, Barclays launched five buy-to-let mortgage products at loan-to-values between 60% and 75% loan-to-value.
There is a 2-year fix at 1.45% to 60% LTV with a £1,295 fee, while there’s also a 2-year tracker at 2.25% to 75% LTV with no fee.
A ‘premier exclusive’ 3-year fix is now priced at 2.00% to 75% LTV with no product fee.
For portfolio landlords there is a 5-year fixed rate at 2.50% to 75% LTV with a £2,495 fee.
Landbay cuts mortgage rates
Landbay was another lender to alter its buy-to-let mortgage offering this week.
The lender cut its green mortgage range, as it’s 2-year fix to 75% LTV was reduced by 0.10% to 2.89%.
There are also 5-year fixes at 3.09% for properties with an EPC rating between A or B, or 3.14% for a C rated home.
Meanwhile its core 2-year fixed rate offering now starts at 2.85%
Paul Brett, managing director for intermediaries at Landbay, Intermediaries, said: “Two months into our green mortgage range and the interest from intermediaries has been incredible. We have now introduced a 70 per cent LTV green mortgage, to help satisfy landlord demand.
“We have also been able to lower rates on most of our core products and will continue to maintain our highly competitive stance in the market to ensure a really strong year has an even stronger finish.”
Accord follows suit
Accord made expansive changes to its buy-to-let range.
It’s remortgage 2-year fix to 65% LTV was cut by 0.09% to 1.79% with a £495 fee and £250 cashback.
Its 75% LTV 3-year fix has been cut by 0.13% to 1.65% with a £1,495 fee and £300 cashback.
Meanwhile Accord’s 80% LTV 3-year fix for purchase and remortgage has been reduced from 3.43% to 3.28% with a £995 fee and £500 cashback.
All the afore mentioned products come with a free standard valuation.
Simon Garner Accord mortgage manager, said: “We’re pleased to launch this new range which aims to give brokers and landlord clients improved choice, and with end dates extended until January will deliver better value for many.”