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Principality BS makes buy-to-let reduction

Principality BS makes buy-to-let reduction

Category: Mortgages

Updated: 22/02/2010
First Published: 19/02/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Principality BS has reduced the rate of its already market leading buy-to-let mortgages.

Its variable rate tracker now offers a rate of 3.39% to 31.3.12, a maximum loan-to-value of 60% and an advance fee of 3.5%.

The account's rate is bank base rate (currently 0.50%) plus 2.89% for term.

Christopher Johnson, mortgage product manager at Principality Building Society, said: "We are delighted to be offering customers one of the most competitive buy-to–let products in the market.

"This product offers landlords the opportunity to decrease their monthly repayments and maximise their rental income in a low interest rate environment.

"We recognise the importance of the buy-to let market for the future of housing and this is reflected in our competitive pricing of this product. With many commentators predicting that base rate will remain static over the coming months, this product offers a market-leading rate for landlords looking to expand their portfolios."

Four out of five Moneyfacts stars have been awarded.

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