Discounted BTL mortgage gets a rate cut | Product News - Moneyfacts

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Discounted BTL mortgage gets a rate cut

Discounted BTL mortgage gets a rate cut

Category: Buy To Let
Date: 10/07/2015

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 It is now over 6 months old so the content may be out of date.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 two-year discounted buy-to-let mortgage by 0.10%, securing it a well-deserved 'excellent' rating.

The basics…

This mortgage now has a discounted variable rate of 2.19% (3.21% disc), the lowest currently available in its sector. It is available at a loan-to-value (LTV) of 60% and has a fee of £995.

The finer details…

This deal is available to first-time buyers, second-time buyers and remortgagors with a 40% deposit. Although there are no incentives available, borrowers do have the opportunity to make overpayments of up to 10% per annum.

Why we like it…

Landlords with the right deposit are likely to welcome this rate decrease, especially as this deal already has the lowest rate available in its sector. The fact that overpayments are allowed is also likely to be celebrated, as it gives borrowers some welcome repayment flexibility.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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