Two-year fixed rates for standard BTL products now start at 2.83% while five-year fixed rates start from 4.54%, available to both individual and limited company borrowers.

The pricing changes impact UK resident mortgage range only, non-UK resident and expat pricing remains the same.

Molo distribution director Martin Sims says: “As the market shifts, brokers need lenders who act quickly and stay focused on affordability. At Molo, we’re doing just that – offering consistently competitive pricing and helping brokers find solutions that work for their clients today and in the long term.”

Meanwhile, LendInvest Mortgages has cut rates on all two-year fixed term residential mortgages by up to 15 basis points.

The lender’s five-year fixed term residential products will also be reduced by 10bps.

These new rates are now in place, and enable brokers and intermediaries throughout England, Wales and Scotland to support their clients looking to purchase a new home or remortgage their existing home.

This announcement follows the lender’s recent redesign of their credit criteria.

There are now four distinct categories, each designed to cater to varying levels of allowable adverse credit.

LendInvest director of sales Paula Mercer says: “LendInvest has always been committed to people wanting to purchase a new home, that’s why we’re happy to announce these rate changes to our two-year and five-year fixed term residential mortgage products.”

“We also know that everyone’s situation is different, and ‘blips’ on their credit histories shouldn’t keep them from owning their own home.”

“That’s why we’ve taken a look at our credit criteria, and have created four unique tiers, each allowing for lending to those with different levels of adverse credit histories including defaults, arrears and CCJs.”