Buy To Let Date:
Monmouthshire Building Society has added a new two-year discounted buy-to-let mortgage to its range, securing it an 'excellent' rating thanks to its attractive terms.
This two-year mortgage has a discounted variable rate of 2.05% (2.94% disc), the lowest rate currently available in its sector. It is offered at a loan-to-value (LTV) of 60% and has a fee of £549.
This deal is only open to house purchase customers (excluding first-time buyers) who are local residents of the building society. Although there is no incentive package with this mortgage, borrowers are given the opportunity to make overpayments of up to 5% of the outstanding balance per annum.
Local landlords are likely to be intrigued by this latest deal. The rate offered is the lowest currently available in its sector and it boasts a competitive fee. The opportunity to pay down the mortgage balance is also an attractive feature.
Moneyfacts rating: Excellent
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