‘Excellent’ rating for BTL mortgage | Product News - Moneyfacts

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‘Excellent’ rating for BTL mortgage

‘Excellent’ rating for BTL mortgage

Category: Buy To Let
Date: 25/02/2015

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 It is now over 6 months old so the content may be out of date.

Coventry Building Society has increased the rates of selected buy-to-let mortgages. However, its variable deal remains a strong competitor in its sector, securing its position as a Moneyfacts best buy and winning an 'excellent' review for its terms.

The basics…

This deal now has a competitive variable rate of 3.09% for the term of the mortgage. It is available at a loan-to-value of 65% and has a fee of £749.

The finer details…

This mortgage is only available to second-time buyers and remortgagors with a 35% deposit. All borrowers can take advantage of an incentive package of free valuation (max £700), while those looking to remortgage can also profit from free legal fees.

Both overpayments and payment holidays are permitted provided certain conditions are met, which gives borrowers some welcome flexibility.

Why we like it…

This mortgage offers landlords a competitive rate, but the generous incentive package and low fee makes this deal particularly attractive. Those looking to keep upfront costs down will find the offer of free valuation and, for remortgagors, free legal fees, appealing, while the flexible repayment options act as additional bonuses.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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