The new products are:
- 3 year discount, with a pay rate of 5.49% (minimum loan of £150,000 and a 5% early repayment charge for the first three years).
- 3 year discount, with a pay rate of 5.69% (a minimum loan of £60,000 and a 5% early repayment charge for the first three years).
- 1 year discount, with a pay rate of 3.49% (a minimum loan of £60,000, and 5% early repayment charge for the first three years).
For both of the 3 year discount rate deals, the 130% rental cover is calculated by applying the advertised pay rate. For the 1 year discount rate deal, the 130% rental cover is calculated by applying the buy-to-let variable rate which is currently 6.5%.
Mortgage Express is the UK’s biggest buy-to-let lender and has won a number of industry awards including the Mortgage Introducer Best Buy-to-let Lender and Mortgage Strategy Best Buy-to-Let Lender.
Tim Sturley, head of business development, says: ‘‘We are committed to maintaining our market-leading position by offering great products and a consistent standard of customer service’’.
‘‘Brokers and their customers will no doubt be pleased with these new deals, which will help them to take advantage of the many investment opportunities that continue within the buy-to-let market’’ Sturley concludes.
