3-yr fixed BTL deal gets its fee cut | Product News - Moneyfacts

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3-yr fixed BTL deal gets its fee cut

3-yr fixed BTL deal gets its fee cut

Category: Buy To Let
Date: 12/04/2016

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Metro Bank has cut the fee on its three-year fixed rate buy-to-let (BTL) mortgage for its current account customers by a significant £1,000, earning it an 'excellent' rating and a place on the charts as a result.

The basics…

This mortgage has a competitive rate of 3.09% and is available at a loan-to-value (LTV) of 75%. A new fee of £999 is payable.

The finer details…

Applicants who are second-time buyers or landlords looking to remortgage their rental property are welcome to apply, provided they have or open a Metro Bank current account.

There are no incentives accompanying this deal, but borrowers can take advantage of the option to make overpayments of up to 10% of the outstanding balance per annum.

Why we like it…

The new lower fee has increased the gloss on this deal to make it an eye-catching offer for landlords who are already current account customers with the bank or those who are willing to open an account with them. The fact that overpayments are also permitted further sweetens the deal by adding a welcome degree of flexibility.

Moneyfacts rating: Excellent

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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