New discounted mortgage for landlords | Product News - Moneyfacts

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New discounted mortgage for landlords

New discounted mortgage for landlords

Category: Buy To Let
Date: 17/06/2015

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 It is now over 6 months old so the content may be out of date.

Loughborough Building Society has added a new two-year discounted variable deal to its buy-to-let range, securing it a place on the Moneyfacts charts.

The basics…

This deal has a discounted variable rate of 2.79% (2.20% disc) for two years, which allows it to sit comfortably on the charts. It is available at a loan-to-value of 75% and has a low fee of just £499.

The finer details…

This mortgage is open to landlords with a 25% deposit. Although there are no incentives accompanying this deal, all borrowers can benefit from the flexibility of overpayments, with up to 10% of the outstanding balance being permitted in overpayments per year.

Why we like it…

This newcomer on the market boasts an attractive rate, which is likely to intrigue landlords on the lookout for a competitive deal. The low fee adds to its charm by helping to reduce upfront costs, while the option to make overpayments gives borrowers some refreshing 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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