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Specialist lender ModaMortgages, part of Chetwood Bank, has announced it is cutting buy to let rates by up to 15bps.

The price reduction, which applies to both the lender’s standard and limited edition ranges, means rates for single dwelling products now start from 2.99% for 2 year fixed rates and from 4.59% for 5 year fixed rates.

Rates for its small HMO and MUFB products, which are suitable for properties with up to six bedrooms or units, now start from 3.09% for 2 year fixed rates and from 4.69% for 5 year fixed rates.

Products are available up to 80% LTV and are open to personal ownership and limited company landlords. Investors can benefit from free valuations and a choice of fee options across all ranges.

Darrell Walker, Group Sales Director at Chetwood Bank, said: “We’re pleased to announce rate reductions of up to 15bps across our entire buy to let product range.

“This move reinforces our commitment to providing competitive options for brokers and their landlord clients in an ever-changing market environment.”