Buy To Let Date:
Post Office Money has introduced a new three-year fixed rate buy-to-let (BTL) mortgage to its range, earning it a coveted place on the Moneyfacts charts thanks to its competitive rate and terms.
This mortgage has a rate of 2.68% fixed until 31.3.19, the lowest rate currently available for its term. It is available for a loan-to-value (LTV) of 60% and has a fee of £1,995.
This deal is for second-time buyers and those looking to remortgage their rental property. There are no incentives available, but landlords can benefit from the option to make regular and lump sum repayments of up to 10% of the outstanding balance per annum.
This newcomer has made its presence known thanks to its eye-catching rate. Landlords who are looking for a competitive deal are therefore likely to pay a great deal of attention to this mortgage, particularly as it also gives them the flexibility to make overpayments.
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