Remortgage product for buy-to-let

Amanda Jarvis

September 30, 2002

The mortgage range includes:
• a five year fixed rate mortgage at 5.75% with the lowest remortgage rental income requirements in the market, according to the lender; or
• a three-year base rate tracker at just 5.29%.

Both of these remortgage deals come with free legal fees. Bristol & West Mortgages will pay for all standard legal remortgage costs including the solicitor’s leasehold fee, worth an average of £410 per property. In addition borrowers will receive free valuation and no administration fees, a total saving of up to £900, according to Bristol & West.

Commenting on the deal, Rachel Woollatt, market development manager at Bristol & West Mortgages, said: “Borrowers who took out their buy-to-let mortgage four years ago could be paying a rate of 9%. By remortgaging an £85,000 mortgage from a 9% rate to our new 5.29% rate, borrowers could save nearly £263 per month.”

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