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Mortgage Trust launches eighteen buy-to-let products

Nia Williams

July 12, 2011

The range includes nine fixed rate and nine tracker rate products and are exclusively available via intermediaries for purchase and remortgage.

Tracker rates start from 3.69% and fixed rates start from 4.29%. The products include a range of LTVs (75%, 70% and 65%) and fees (2.5%, 1.0% and a flat fee of £1,495) to ensure that intermediaries can find the best product combination for their landlord clients.

John Heron, Mortgage Trust managing director, said: “Mortgage Trust returned to lending in April and we have secured a strong position back in the buy-to-let market in this short space of time. The launch of eighteen new products will appeal to an even broader spectrum of landlords and intermediaries, providing support to the growing needs of the private rented sector.

“We are offering intermediaries a range of product choices, LTVs and fees so that they can find the most suitable combination for their landlord client. Intermediaries should consider the overall package of the product when searching via sourcing systems, rather than just the headline interest rate. Often, a product with a low or flat fee and a slightly higher initial rate can work out cheaper over a two-year period than products that head the best buy tables.”

The products are available for single, self-contained properties only and intermediaries can access them directly via thewww.MTon-line.co.uk website or the Mortgage Brain and Trigold sourcing systems. The rental calculation across the range is based on 125% at 5%, or the product rate if greater.

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