BTL deal remains ‘outstanding’ | Product News - Moneyfacts

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BTL deal remains ‘outstanding’

BTL deal remains ‘outstanding’

Category: Buy To Let
Date: 05/02/2016

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 It is now over 6 months old so the content may be out of date.

Coventry Building Society has increased the rate on its variable for term buy-to-let mortgage, but despite this, it has retained its competitive edge.

The basics…

This mortgage now has a variable rate of 2.49% for the term of the mortgage, the lowest rate currently offered in its sector. It is available at a loan-to-value (LTV) of 65% and has a fee of £1,999.

The finer details…

This deal is offered to second-time buyers and landlords who are looking to remortgage their rental property. Free valuation (max £700) is available to all borrowers while remortgagors can also profit from free legal fees.

In addition, underpayments and overpayments are allowed, provided certain conditions are met, giving borrowers some additional flexibility.

Why we like it…

Landlords who are looking for a competitive buy-to-let mortgage are likely to pay attention to this deal, which still boasts the lowest rate in its sector. It is also accompanied by a generous incentive package, particularly for remortgagors, as well as some flexible repayment options. This is an outstanding product that fully deserves the highest Moneyfacts rating.

Moneyfacts rating: Outstanding

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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