Kent Reliance has adapted its five-year fixed rate buy to let offering for private landlords and buy to let investors, lowering rates on several products.
The lender is hoping to appeal to those seeking cost effective and flexible products. Price reductions have been applied to all five-year products, with rates now starting from just 3.59 per cent.
Fears had been voiced that lenders would move away from property investors following the application of increased affordability checks by the Prudential Regulation Authority, with buy to let lender Paragon Mortgage recently extending their offering to residential investors for the first time. However, several lenders have recently modified or expanded their buy to let ranges in order to remain competitive.
Kent Reliance has introduced reductions across its five-year fixed rate selection, with a new LTV range from 65 per cent to 85 per cent. The products are set to be available for purchase or re-mortgage for standard and specialist buy-to-let investors.
Sales director at OneSavings Bank, Adrian Moloney, said: ‘Our new five-year fixed buy-to-let range will continue to offer the right criteria, flexibility and choice. We believe that brokers will welcome our best ever five-year rates as they seek cost savings and flexibility options on behalf of their customers.’