New Street Mortgages has reduced borrowing rates across its entire buy-to-let five-year fixed range by up to 0.65%.
The Northview Group subsidiary’s no fee mortgage at 75% loan-to-value (LTV) has been reduced to 3.39% from 4.04%, while with a 1.5% fee its five-year fix now stands at 3.09% to 75% LTV and 2.74% to 65% LTV.
New Street has also cut its three-year fixed rate 80% LTV mortgage to 3.34%.
The new rates, which are live from today, are sure to appeal to a number of buy-to-let landlords, according to Steve Griffiths, sales and distribution director at the The Northview Group.
He said: “Today’s rate reductions from New Street are another step in our mission to beat the high street and offer great value for money for customers looking to secure a buy-to-let mortgage.
“Following the launch of our new lending criteria, these changes to our five-year fixed rate mortgages in particular make New Street a highly attractive option for borrowers.
“We firmly believe these new rates and New Street’s innovative approach to the buy-to-let market will resonate with borrowers looking to get a foothold or make their next purchase in the buy-to-let market.”