Mortgage Next launches tracker
It is available to members of the Mortgage Next Network and directly authorised brokers registered with Mortgage Next Partners.
The Buy to let mortgage consist of a base rate tracker + 0.20% for 2 years giving a current charging rate of 4.70%. After 2 years the rate reverts to BBR + 0.99% for the remainder of the term.
The product comes with the following features:
No early redemption charge
1.5% arrangement fee
Available up to 85% loan to value plus fees
10% overpayments – max 10% per annum
Maximum loan advance £500,000
Procuration fee of 0.5% up to a maximum of £2,500
Marketing Director, Justine Tomlinson, said: “The buy to Let market has continued to hold-up well and and this 2 year base rate tracker offers one of the lowest rates currently available, with the added benefit of no early redemption penalties. I have no doubt that this deal will be very popular with brokers and borrowers.”