MT Finance has lowered rates across its buy-to-let mortgage range and is now offering a product with an interest rate below 3%.
The lender has made reductions of up to 0.24% on selected buy-to-let products.
Rates now start from 2.99% for MT Finance's two-year fixed standard residential buy-to-let Tier 1 product – down from the previous rate of 3.19%, and 3.65% for its two-year fixed standard residential Tier 2 product. ICR stress testing remains at 125%.
The latest move from MT Finance follows recent sub-3% buy-to-let product launches from Zephyr and The Mortgage Works.
Marylen Edwards (pictured), director of mortgages at MT Finance, commented: "We are delighted to introduce this significant rate reduction, now offering a buy-to-let product with a rate below 3%.
"At a time when landlords and property investors are seeking value and stability, breaking through the 3% barrier reflects our confidence in the market."
