Buy To Let Date:
Coventry Building Society has reduced the rate of its variable for term buy-to-let (BTL) mortgage by 0.20%, earning it the top accolade as a result.
This mortgage now has a competitive variable rate for term of 2.69%, the lowest rate currently available in its sector. It is offered at a loan-to-value (LTV) of 65% and has a fee of £1,999.
This deal is available to second-time buyers and those looking to remortgage their rental property with a deposit of 35%. All borrowers can benefit from an incentive package of free valuation (max £700), while remortgagors can also profit from free legal fees.
Repayment flexibility is also offered, with overpayments and payment holidays permitted provided certain conditions are met.
The rate decrease to this deal has enhanced its competitiveness, something that is bound to appeal to landlords on the hunt for an attractive variable rate deal. The fact that it also comes with an eye-catching incentive package and a range of flexible repayment options sweetens the deal yet further, ensuring that it fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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