Rate cut for ‘outstanding’ BTL deal | Product News - Moneyfacts

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Rate cut for ‘outstanding’ BTL deal

Rate cut for ‘outstanding’ BTL deal

Category: Buy To Let
Date: 04/11/2015

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 It is now over 6 months old so the content may be out of date.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 reduced the price of its variable rate for term buy-to-let (BTL) mortgage by 0.20%, enhancing its competitiveness and earning it the top accolade as a result.

The basics…

This deal now has a variable rate of 2.49% for the term of the mortgage, the lowest rate currently offered in its sector. It is available at a loan-to-value (LTV) of 65% and has a fee of £1,999.

The finer details…

This mortgage is available to second-time buyers and those looking to remortgage their rental property. All borrowers can profit from free valuation (max £700), while remortgagors can also benefit from free legal fees.

Landlords are offered an appealing range of repayment options, with both overpayments and payment holidays permitted, provided certain conditions are met.

Remember, in order to secure a mortgage, credit card or personal loan you need to have a good credit rating. To find out if yours has a clean bill of health, contact a credit check provider, such as Experian CreditExpert to investigate your credit report.

Why we like it…

The rate reduction to this deal means that it now boasts the lowest rate in its sector, something that is sure to pique the interest of landlords looking for a cost-effective mortgage. The fact that it also includes a generous incentive package and flexible repayment options enhances it further and ensures that it fully deserves the highest Moneyfacts rating.

Moneyfacts rating: Outstanding

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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