BTL mortgage keeps its place in the charts | Product News - Moneyfacts

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BTL mortgage keeps its place in the charts

BTL mortgage keeps its place in the charts

Category: Buy To Let
Date: 10/02/2015

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 It is now over 6 months old so the content may be out of date.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 increased the rates of selected buy-to-let mortgages, but one of its variable rate for term deals has retained its place in the Moneyfacts charts and earned an 'excellent' review in the process.

The basics…

This deal now has a variable rate of 2.95% for the term of the mortgage, allowing it to keep its place among the top 10 of its sector. It is available at a loan-to-value (LTV) of 65% and has a competitive fee of £749.

The finer details…

This mortgage is only available to second-time buyers and remortgagors with a 35% deposit. All borrowers can profit from an incentive package of free valuation (max £700), while those looking to remortgage their rental property can also benefit from free legal fees.

Both overpayments and payment holidays are permitted provided borrowers abide by certain conditions.

Why we like it…

Although this mortgage has witnessed a slight rate increase, it is still a tough competitor in its sector, retaining a place among the best buys. First-time landlords in particular are likely to find this mortgage appealing thanks to the competitive fee and the generous incentive package, which will help to keep initial 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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