Buy To Let Date:
Coventry Building Society has increased the rate of its variable for term buy-to-let (BTL) mortgage, but despite this, it remains highly competitive and fully deserves its 'outstanding' rating.
This deal now has a variable rate for term of 2.69%, which remains the lowest available in its sector. It is offered at a loan-to-value (LTV) of 65% and has a fee of £1,999.
This mortgage is open to second-time buyers and those looking to remortgage their rental property. An incentive package of free valuation (max £700) is available to all borrowers while remortgagors can also profit from free legal fees.
In terms of repayment flexibility, borrowers can take advantage of the option to make overpayments and take payment holidays, provided certain conditions are met.
This mortgage may have undergone a rate rise but it remains the lowest currently available in its sector, something that is sure to appeal to landlords who are looking to keep their monthly repayments down. It also comes with an eye-catching incentive package and some flexible repayment options, which further add to its attractiveness. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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