Mortgage Next launches BTL exclusives
The deals are available exclusively via members of the Mortgage Next Network and directly authorised brokers registered with Mortgage Next Partners.
The Buy to let products consist of a fixed rate at 5.64% until 30th June 2011 and a discounted rate of 1.10% for 3 Years at 5.15%.
Both products come with the following features:
– Early redemption charge of 5%, if redeemed within the fixed rate or discount term (no overhangs)
– Available up to 85% loan to value
– Free valuation
– £449 completion fee
– Rental cover of 130% calculated using the pay rate
– Procuration fee of 0.50%
Marketing director, Justine Tomlinson, said: “Confidence within the buy to let market remains high and, according to research published recently by the Homebuyers Show, over 72% of investors are planning to buy investment properties within the next 12 months. What’s more, over 68% of investors are relying on buy to let investments for their future wealth.
The buy to let products launched today are highly competitive and come with the added benefit of a free valuation. I’m sure that they will be a big success with our members.”