MT Finance reduces buy-to-let mortgage rates

By Bridging Loan Directory 16th January 2024

Specialist finance lender MT Finance has reduced buy-to-let mortgage rates by up to 1%.

MT Finance has reduced rates on every one of its 16 buy-to-let (BTL) products, with immediate effect.

The lender now offers rates from 4.65% for two-year fixed standard residential buy-to-let products. ICR stress testing remains at 125% on five-year products across all tax brackets.

MT Finance’s announcement is indicative of an industry-wide trend, with many lenders slashing rates as the Bank of England’s Monetary Policy Committee continues to hold the base rate at 5.25% amidst falling inflation.

Marylen Edwards, Head of Lending – BTL at MT Finance comments:

“I’m really pleased to announce that we are making reductions to the whole of our buy-to-let product range. We are acutely aware how hard the last year has been for landlords and investors and we hope that the latest changes will help to alleviate some of the many pressures they’re facing.

As always, we are continuing to monitor our products, ensuring that we can deliver the very best for our customers.”