Mortgage Trust, a specialist buy-to-let lender, has returned to the market after an absence of three years, providing new options for existing landlords. Mortgage Trust re-launched with two remortgage-only products, available up to 75 per cent loan-to-value with free valuation and free legal fees.
Buckinghamshire Building Society has expanded its offering in the buy-to-let marketplace, with a highly competitive remortgage product up to 60 per cent loan-to-value. The initial rate is fixed at 4.50 per cent until 31/12/2012 with free valuation, free legals and no completion fee. Chorley Building Society is offering an excellent 80 per cent loan-to-value product which is a 4.99 per cent 2 year discount with a 2.50 per cent completion fee.
Following on from its initial buy-to-let offering, Hinckley & Rugby launched a new 60 per cent loan-to-value product for landlords with larger deposits. The initial rate is 3.15 per cent, discounted for 2 years from the lender’s standard variable rate and with a £1750 completion fee. This is available alongside its 3.99 per cent 2 year discount up to 75 per cent loan-to-value with £2499 completion fee and no early repayment charges.
At NetRent Mortgages, as well as the increase in the number of products available, we have seen an increase in average loan sizes and loan-to-values since the beginning of the year. This reflects the improving market conditions for property investors and the appetite of lenders to underwrite buy-to-let mortgage business. We should see further developments throughout the year giving landlords reason to be optimistic about their prospects in the buy-to-let sector.
At NetRent Mortgages, our most popular products in June:
• 3.99 per cent 2 year discount with Hinckley and Rugby Building Society up to 75 per cent loan-to-value with £2499 completion fee
• 4.90 per cent 2 year tracker with Paragon Mortgages up to 75 per cent loan-to-value with 2.25 per cent completion fee
• 3.99 per cent 2 year tracker with Mortgage Trust for remortgages up to 75 per cent loan-to-value with free valuation and free legals and a £999 completion (no longer available)
• 5.50 per cent 2 year fixed with Paragon Mortgages up to 70 per cent loan-to-value with a 2 per cent arrangement fee
For more information please click here NetRent Mortgages or telephone 029 2069 5466
