Mortgage Trust was one of the first lenders in the buy-to-let sector in the mid-1990s.
The new products are available exclusively via intermediaries and are not available to direct customers. Products are only available online at a specially launched website, www.MTon-line.co.uk, and there is a simple and streamlined application process that will give an instant initial lending decision.
Mortgage Trust’s products include a two-year tracker at 3.99% and a two-year fixed at 4.99%. Both products are available up to a maximum loan-to-value of 75%, have a fixed fee of £999 and come with free valuation and legal fees.
John Heron, director of Mortgages, said: “Mortgage Trust is extremely well regarded within the intermediary community and has an excellent reputation for catering for simple buy-to-let cases. By utilising technology to a much greater extent in the application process via www.MTon-line.co.uk, we will be giving an initial lending decision in minutes. This will deliver a quicker and more efficient process for intermediaries and their landlords.”
Mortgage Trust’s products are available for buy-to-let applications on single self-contained properties and all products are subject to fast track credit score based underwriting. Rental calculation is based on 125% at 5% and applications must be successfully completed by 24 June 2011.
Intermediaries need to register at www.MTon-line.co.uk to apply for the products.
