Buy To Let Date:
Coventry Building Society has reduced that rate on its five-year fixed buy-to-let (BTL) mortgage by 0.20%, cementing its status as an 'excellent' product.
This deal now has a competitive fixed rate of 3.29% until 31.7.21 and is available at a loan-to-value (LTV) of 75%. A fee of £1,999 is payable.
Second-time buyers and landlords who are looking to remortgage their rental property are welcome to apply for this mortgage, provided they have the correct deposit. As an incentive, this mortgage offers free valuation (max £700) to all borrowers, while remortgagors can also benefit from free legal fees.
Borrowers who are looking for some repayment flexibility will be pleased to hear that it is possible to make overpayments of up to 10% of the outstanding balance per annum.
By trimming the rate on this mortgage, Coventry Building Society has made this deal a force to be reckoned with in its sector. Eligible landlords are likely to be drawn in by its attractive rate, generous incentive package and the option of overpayments, all of which combine to make this an 'excellent' deal.
Moneyfacts rating: Excellent
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