Landlords are seeing lower buy-to-let tracker rates and increased flexibility from lenders. Some deals now allow borrowers to leave without early repayment charges.
Five-year tracker mortgages are also becoming more widely available. YBS Commercial Mortgages has launched a five-year buy-to-let tracker at 4.90%, which includes the Bank Base Rate plus 1.15%. This deal is available for up to 75% loan to value, with a 2% arrangement fee.
LendInvest has removed early repayment charges from its buy-to-let tracker range, giving borrowers the option to refinance or repay during the initial term without penalty. The lender has also reduced initial pay rates across its range, which it states will improve affordability assessments.
Atom bank has simplified its commercial mortgage pricing, offering discounts of up to 0.70% depending on the loan size. The largest reductions apply to borrowing between £800,000 and £2 million.