New discounted BTL deal | Product News - Moneyfacts

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New discounted BTL deal

New discounted BTL deal

Category: Buy To Let
Date: 06/07/2015

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 It is now over 6 months old so the content may be out of date.

Hanley Economic Building Society has launched a new two-year discounted variable buy-to-let mortgage, earning it an 'excellent' rating for its competitive terms.

The basics…

This mortgage has a variable rate of 3.50% (1.69% disc) for two years, the lowest rate currently available in its sector. It is available at a loan-to-value (LTV) of 80% and has absolutely no product fees.

The finer details…

Second-time buyers and those looking to remortgage their rental property are welcome to apply for the mortgage, provided they have a 20% deposit. Although no incentives are offered with this deal, it is possible to make overpayments of up to 10% of the outstanding balance, giving borrowers the opportunity to reduce the balance of their mortgage.

Why we like it…

This deal boats the lowest rate currently available in its sector, and when combined with the absence of any product fees, it stands out as a cost-effective offer. Landlords with a smaller deposit who are looking to keep upfront costs down are therefore likely to view this mortgage with a great deal of interest.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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