Private Landlords turn to Agencies to Retain Profit

Rate cuts, cashback and zero fees for buy-to-let landlords 

Buy to let mortgage deals hit an all-time high in March 2019, giving landlords more choice than ever. One month on and buy-to-let mortgage costs remaining stable, lenders are offering alternative incentives alongside rate cuts, as they compete for borrowers.

TSB cashback, free legal fees and reduced rates

Rate cuts and a suite of new buy-to-let deals have been announced by TSB, which according to Head of Mortgages Nick Smith, ‘is committed to helping customers to borrow well’. The lender has reduced rates by up to 0.10% on select deals with immediate effect and introduced a range of new landlord remortgage loans with £300 cashback or free legal fees on offer.

Kensington cut rates and introduce cashback

Kensington has applied a 0.4% rate reduction across its range of buy to let deals for HMOs and multi-purpose blocks. Rates start at 2.54% for a two-year fix rate, and 3.64% for a five-year fixed rate at 70% loan to value (LTV).  Buy-to-let deals, including limited company mortgages, also benefit from £250 cashback and free valuation.  Craig McKinlay, new business director said the lender was ‘keen to empower landlords’ by increasing the number of options open to them.

Roma Finance mortgage enables early exit from bridging loan for existing customers

Roma’s new medium-term mortgage means existing customers with a bridging loan can exit their loan once their property project is completed, without the need for the property to be fully let,  allowing borrowers to move on to their next project sooner. The five-year BTL mortgage is available as repayment or interest only on 75% LTV for a maximum of £500,000, but currently only available to existing customers as Roma assess demand.

Buy-to-let landlords are certainly facing some challenges, but positive support from lenders could make a significant difference to investors keen to stay in the market.


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