Family Building Society has lowered its five-year fixed rate for the UK landlord buy-to-let (BTL) deal by around 0.3% and changed the loan size and loan to value (LTV) available.
The rate for the five-year fixed UK landlord BTL product is 4.59%.
The maximum LTV for the UK landlord BTL product has been increased from 60% to 65% and the minimum loan stands at £45,000, down from £100,000 previously.
The maximum loan size has been upped from £600,000 to £750,000.
It has no application fee or product fee and comes with a free valuation up to £500,000 and £500 cashback for remortgage.
The firm is also removing its five-year fixed rate limited company deal at 60% LTV.
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Darren Deacon, head of intermediary sales at Family Building Society, said: “The launch of this new, enhanced buy-to-let product for UK landlords comes at a time when the rental market is facing many challenges. This competitive five-year fixed rate product will be a welcome boost to those landlords looking for financial certainty over the medium term.”
