BM Solutions and The Mortgage Works offering sub-5% buy-to-let rates with chunky fees

by Aaron Strutt

Sep 12 2023

BM Solutions and The Mortgage Works are two of the largest buy-to-let lenders offering sub-5% fixed rates to landlords.

The buy-to-let mortgage market is arguably going through its most challenging period, and many landlords’ monthly costs have risen significantly.

To try and attract more landlords, some lenders offer lower rates and higher setup fee options.

BM Solutions has five-year fixed-rate mortgages priced below and just above five per cent, although borrowers will need a deposit of between 35% and 50% deposit to qualify for them. The arrangement fee is also as high as £3,999.

The Mortgage Works, which the Nationwide Building Society owns, has announced that it is lowering its buy-to-let rates by up to 0.5%. Its most competitively priced rate is now just below 5%, although it has an arrangement fee of 3% of the mortgage amount. Landlords will need a 45% deposit to qualify.

Aaron Strutt, product director at Trinity Financial, says: “Buy-to-let lenders are starting to do more to offer cheaper rates because they are not providing anywhere near as many mortgages as they have been used to over the years.

“Since the Bank of England base rate started to increase, it has been almost impossible for many landlords, particularly in London and the south-east, to borrow enough money to get a sufficiently large mortgage to purchase a buy-to-let property or refinance away from their existing lenders.”

Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation 

The information contained within was correct at the time of publication but is subject to change.

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