Buy To Let Date:
Cumberland Building Society has made a slight increase to the rate of its three-year fixed buy-to-let (BTL) mortgage, but it has retained its competitive spirit and kept a place in the Moneyfacts charts.
This mortgage now has a rate of 2.95% fixed until 1.11.18, which is just below the market-leading rate. It is available at a loan-to-value (LTV) of 60% and has a fee of £995.
This deal is open to all borrowers with a 40% deposit. There is no incentive package on offer, but all landlords can profit from the flexibility of being able to make overpayments of up to 10% of the outstanding balance per annum
This deal may have had a slight rate increase, but this has not affected its competitiveness in the market. Landlords on the lookout for an attractive three-year deal are therefore likely to be drawn to this offer, particularly as it also offers the possibility of making overpayments, which will potentially shorten the mortgage term.
Moneyfacts rating: Excellent
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