5-yr fixed BTL deal gets a rate reduction | Product News - Moneyfacts

Product News

5-yr fixed BTL deal gets a rate reduction

5-yr fixed BTL deal gets a rate reduction

Category: Buy To Let
Date: 20/10/2015

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 It is now over 6 months old so the content may be out of date.

Coventry Building Society has reduced the rates of selected five-year fixed rate buy-to-let mortgages, earning one of its deals an 'excellent' rating after it received a cut of 0.30%.

The basics…

This mortgage now has a rate of 3.35% fixed for five years, the lowest rate currently available for its terms. It is available at a loan-to-value (LTV) of 65% and has a fee of £1,999.

The finer details…

This deal is available to second-time borrowers and landlords who are looking to remortgage their rental property. All borrowers can benefit from a generous incentive package of free valuation (£700), while remortgagors can also profit from free legal fees.

In terms of repayment options, borrowers do have the ability to make overpayments of up to 10% of the outstanding balance per annum, giving them the potential to reduce their overall balance.

Remember, in order to secure a mortgage, credit card or personal loan you need to have a good credit rating. To find out if yours has a clean bill of health, contact a credit check provider, such as Experian CreditExpert to investigate your credit report.

Why we like it…

Landlords looking to fix their buy-to-let mortgage rate for the longer term are likely to take a closer look at this deal, which offers a highly competitive rate. The fact that it also boasts an enticing incentive package, particularly for remortgagors, makes it even more attractive as it will help to keep upfront costs down.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
Close