Buy To Let Date:
Coventry Building Society has reduced the rates on selected fixed rate buy-to-let mortgages. One mortgage to see a decrease was its two-year fixed rate product, which has seen a 0.10% reduction, reinforcing its place in the top 10.
The mortgage now has a competitive rate of 3.49%, fixed until 31.10.16 and it is available up to 75% loan-to-value (LTV). A fee of £999 is payable.
Once the two-year rate expires, the mortgage will revert to an Existing Borrowers Rate of 4.74% for the remainder of the mortgage term.
The mortgage is available to remortgagors and home-owners. Borrowers benefit from an incentive of free valuation fees (up to £700) while remortgagors can also take advantage of free legal fees.
Overpayments of up to 10% of the outstanding balance can be made each year, which offers some payment flexibility to borrowers.
This mortgage is also available through Godiva Mortgages.
This mortgage was already a best buy, but its rate decrease has ensured its continued presence in our charts. The fees for this mortgage are reasonable and there is also an appetising incentive package, which is sure to be appreciated by borrowers looking to keep their initial costs down.
Four Moneyfacts Stars have been awarded.
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 Any products featured may be withdrawn by their provider or changed at any time.
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