Mortgage Trust has launched a new limited edition five-year fixed rate buy-to-let mortgage for individual landlords seeking finance for single and self-contained units.
The new five-year fixed rate product offers finance at 3.45% and offers landlords up to £500,000 at 75% loan-to-value (LTV) and up to £1m at 70% LTV.
The product includes a free mortgage valuation and features an interest coverage ratio starting at 125% at 4%.
John Heron (pictured), director of mortgages at Mortgage Trust, said: “Longer term fixed rates are becoming increasingly popular, providing landlords with greater cost certainty as they look to manage the introduction of the new tax changes.
“With interest rates still close to historic lows, now is a good time for landlords to consider the potential advantages of locking in for a longer period.”