Mercantile Trust launched added one-year and five-year fixed-rate deals to its buy-to-let offering. 

The specialist bridging and BTL lender says the products are available across its entire landlord range, as first or second charge mortgages, at up to 75% loan to value, with loans available from £10,000 up to £750,000 throughout England, Wales, Scotland, and at up to 70% LTV in Northern Ireland. 

The one-year deal, priced at 11.53%, has an early repayment charge of 1%, while the five-year product, priced at 12.40%, carries no early repayment charge.  

The firm says its “smaller loan sizes, 125% rental coverage, top slicing and ability to consider properties of a non-standard construction, provide opportunities to both first-time landlords and experienced property professionals”. 

Mercantile Trust director of commercial operations Maeve Ward adds: “During a time when many borrowers are dealing with affordability issues, it is really important that lenders provide alternative solutions for brokers and their clients.  

“These new fixed rates provide optionality but with certainty of payment while waiting for the market to settle.”