Buy To Let Date:
Royal Bank of Scotland Mortgages Direct has reduced rates on selected mortgages, giving one of them a new competitive edge in the market.
The two-year fixed rate mortgage now has a rate of 2.49% with a loan-to-value (LTV) of up to 60% until 31.12.16. A fee of £1,995 is payable to arrange the mortgage.
Once the two-year fixed rate expires, the rate will revert to an Existing Borrowers Rate of 4.00% for the remainder of the mortgage term.
The mortgage is available to first-time landlords as well as professional landlords and those seeking to remortgage. Free valuation fees are available to all borrowers while remortgage customers will also benefit from free valuation fees and free legal fees.
Borrowers have the freedom to make overpayments of up to 10% of the outstanding balance per year.
This mortgage offers an attractive and competitive rate, which is sure to impress landlords on the look-out for a new mortgage. The incentive package is also likely to draw attention, as is the benefit of a one-off flat fee.
Four Moneyfacts Stars have been awarded.
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