Kent Reliance has announced rate reductions across its five-year fixed buy to let range.
Part of the OneSavings Bank, the lender will cut rates on its five-year fixed rate buy-to-let mortgages at 75 per cent and 80 per cent loan to value (LTV).
Both products have seen a rate drop of 20bp, with the 75 per cent LTV now available at 3.79 per cent and the 80 per cent LTV at 4.39 per cent.
The new buy to let rates will be available to standard, specialist, fee assisted and further advance borrowers.
Adrian Moloney, sales director at OneSavings Bank, said: "We have listened to broker feedback for mortgage lenders to continue to provide landlords with products that give financial certainty over the longer term.
"With a rising interest rate market we are delighted to announce this rate reduction to support our broker partners and their client’s needs."
Robert Kewley, director and financial adviser at One Mortgages and Protection, said the buy to let market had taken a hit since the introduction of the new stamp duty and landlords were now looking towards more niche areas of lending, including high loan to value.
He said: "We are seeing lenders reducing rates because the market has dropped - lenders such as Kent Reliance are beginning to focus on their niche products, as opposed to their mainstream offers, as a result."
rachel.addison@ft.com
