Specialist lender also reduces all of its tracker rates
Specialist lender Market Financial Solutions (MFS) has announced the reintroduction of certain fixed rate buy-to-let mortgages, alongside a reduction in all of its tracker rates.
The move provides buy-to-let investors new, shorter-term financing options, specifically two- and three-year fixed rate mortgages, without the requirement for rate stressing that often compels landlords into five-year fixed agreements with early repayment charges.
Starting from a pay rate of 4.59%, the lender’s fixed rate products are designed to provide BTL investors with more flexibility. Additionally, MFS has adjusted its tracker rates downwards by 0.20% to 0.25%.
We're thrilled to bring these products to the specialist mortgage market! https://t.co/ZFOIEYm1ZV— MFS (@MFSBridging) February 9, 2024
“The time is right for us to introduce two-year and three-year fixed products back into our BTL mortgage range,” said Paresh Raja (pictured), chief executive at Market Financial Solutions. “We know that while they do not want to be locked in for so long, many brokers and borrowers take out five-year fixes due to a lack of an alternative or because they can get a longer-term fix without rate stressing.
“The fact we are bringing in shorter fixes but without rate stressing will give BTL investors much more control and choice when seeking the right product. Everything we do is designed to empower brokers and borrowers.
“Our skill, experience and funding lines allow us to provide greater flexibility and optionality, and we’re confident that our expanding BTL mortgage range will remain in high demand in 2024.”
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