Variable BTL deal gets a rate cut | Product News - Moneyfacts

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Variable BTL deal gets a rate cut

Variable BTL deal gets a rate cut

Category: Buy To Let
Date: 28/08/2015

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 It is now over 6 months old so the content may be out of date.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 rate of one of its variable rate for term buy-to-let (BTL) mortgages by 0.20%, earning it the highest Moneyfacts rating as a result.

The basics…

This deal now has a variable rate for term of 2.89%, the lowest rate in its sector. It is available at a loan-to-value (LTV) of 65% with a fee of £1,999.

The finer details…

This mortgage is available to second-time buyers and remortgagors with a deposit of 35%. All borrowers can benefit from free valuation (max £700), while those looking to remortgage their rental property can also profit from free legal fees.

In addition, borrowers are given the option to make overpayments and take payment holidays, provided certain conditions are met.

Why we like it…

This deal now has the lowest rate for its term, something that is sure to capture the interest of eager landlords. The fact that it also comes with a generous incentive package, particularly for remortgagors, and flexible repayment options means that it is a true all-rounder. This is an outstanding product that 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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