Coventry BS trims rate on 5-yr BTL mortgage | Product News - Moneyfacts

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Coventry BS trims rate on 5-yr BTL mortgage

Coventry BS trims rate on 5-yr BTL mortgage

Category: Buy To Let
Date: 15/06/2016

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 It is now over 6 months old so the content may be out of date.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 reduced that rate on its five-year fixed buy-to-let (BTL) mortgage by 0.20%, cementing its status as an 'excellent' product.


The basics…

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.

The finer details…

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.

Why we like it…

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

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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