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An up-dating round up of new mortgage products and ranges launching throughout April 2017.
Precise Mortgages is offering a 5-year fixed rate buy-to-let mortgage at 2.99% to 75% loan-to-value for limited companies or individual borrowers.
The product comes with a 2.00% product fee and, with a minimum loan size of £350,000, has been launched with South Eastern landlords in mind.
Chris Lloyd, associate director of high net worth broker Enness Private Clients, said: “This rate from Precise is market-leading – they will assess the maximum borrowing with the actual rate of interest rate of 2.99%, as opposed to how the high street tests affordability with an assumed stressed interest rate of 5.5%.
“This exceptionally low rate allows the client to borrow a lot more than they can elsewhere.”
He added: “Most landlords are now buying their buy-to-let properties as a limited company as it works out more efficient in terms of tax.
“Interest rates for these clients are typically around 3.5% plus for a limited company buy-to-let mortgage.”
Precise also offers a 5-year fix at 3.39% to 75% LTV for borrowers with a minimum loan size of £250,000.
For all your mortgage and bridging needs, contact the team at Property Tribes Financial Services on 01206 654444.NEXT UP - New BTL mortgages and ranges - March 2017SEE ALSO - Fix for 2y or 5y? DON'T MISS - Lenders slash BTL mortgage rates to tempt LLsNOW WATCH:
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Yes I am loving Precise Mortgages innovative products.
From memory - KRBS was offering the same rate on a 2 year fixed at just 65% LTV.
Precise Mortgages with this Five Year Fixed Limited Edition product with 2.99% at 75% LTV.
I love being a Master Broker for Precise Mortgages - our low fees and precise innovative products and criteria its looking like a good year for Bespoke Finance Team and our Landlords.Lets hope these lenders keep fighting each other to win over our Business.
_________________________________________________________________________The above post is not financial advice, its often me rambling - passing time on a coffee break.If you are looking for the Best BTL Mortgage? Call the Specialist Team at Bespoke Finance._________________________________________________________________________
Leeds Building Society has launched a five year fixed rate buy-to-let mortgage at 3.10 per cent.The lender says the rate is market-leading and applies to house purchases or remortgages up to 70 per cent LTV.
The loan has a £199 fee and a free valuation. Fees-assisted legal services are available for standard remortgages.