Borrowers taking advantage of these deals will benefit from a rate reduction of ten basis points on all three exclusive products, which further enhance The Derbyshire's position in the buy-to-let market.
The three-year fixed rate buy-to-let that the lender funds for Mortgage Intelligence will now have interest fixed at 5.28 per cent. It comes with a £250 cashback incentive for re-mortgages and no application fee for qualifying existing members.
The three-year buy-to-let loan for Pink fixes interest at 5.08 per cent and is subject to a £495 application fee, while the Premier Mortgage Services three-year product fixes interest at 4.99 per cent and is subject to a £995 application fee.
The fixed rate period for all three mortgages expires on September 30 2008 and early repayment charges apply (see below). All of these mortgages are available for a maximum of 10 properties (£500,000 max per property), with rental cover at 125 per cent of the fixed rate.
Tony Capon, head of intermediary support and development at The Derbyshire, said: "Reducing the rates on the fixed rate mortgages we fund exclusively for some of the biggest distributors in the market means that even more buy-to-let borrowers can benefit from cheaper loans to fund their property investments.
"Against trends in the market generally, The Derbyshire has increased buy-to-let lending by 60 per cent in the first six months of 2005. We are confident in the future of the sector, which has become an integral part of our product portfolio. Along with funding exclusive products for brokers and networks, we also have a comprehensive range of fixed-rate, discounted and tracker buy-to-let mortgages, giving borrowers even more choice and enabling them to reap the rewards of investing in this market."
