Discounted BTL deal gets a rate drop | Product News - Moneyfacts

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Discounted BTL deal gets a rate drop

Discounted BTL deal gets a rate drop

Category: Buy To Let
Date: 28/08/2015

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 It is now over 6 months old so the content may be out of date.

Cumberland Building Society has reduced the rate of its discounted variable rate buy-to-let (BTL) mortgage by 0.05%, earning it an 'excellent' rating in the process.

The basics…

This deal now has a discounted variable rate of 2.63% (2.77% disc) for two years at a loan-to-value (LTV) of 75%, making this the lowest rate currently available at this lending tier in its sector. A reasonable fee of £995 is payable.

The finer details…

This mortgage is available to all borrowers with a deposit of 25%. No incentives are offered, but borrowers do have the option to make overpayments of up to 10% of the outstanding balance per annum.

Why we like it…

The rate cut to this deal has heightened its competitiveness considerably, something that is sure to be unmissed by landlords. Although this deal lacks an incentive package, the advantages of a reasonable fee and the option of overpayments more than make up for this.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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