Buy To Let Date:
Coventry Building Society has increased the rate of its variable for term buy-to-let mortgage by 0.10%, but despite this, it remains a highly competitive deal, earning an 'outstanding' rating as a result.
This mortgage now has a variable rate of 2.19% for the term of the mortgage, the lowest rate in its sector. It is available at a loan-to-value (LTV) of 65% and has a fee of £1,999.
This deal is available to second-time buyers and landlords who are looking to remortgage their rental property. An enticing incentive package of free valuation (max £700) is offered to all borrowers while remortgagors can also benefit from free legal fees.
Borrowers can also make use of the deal's flexible repayment options: both overpayments and payment holidays are 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 Credit Expert to investigate your credit report.
The rate increase to this deal has not jeopardised its competitiveness in the slightest. Indeed, it still boasts the lowest rate in its sector, as well as offering landlords an attractive incentive package, particularly for remortgagors. The flexible repayment options also sweeten the deal, ensuring 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 Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.