The deals are available exclusively via members of the Mortgage Next Network and directly authorised brokers registered with Mortgage Next Partners.
The Buy to let products consist of a fixed rate at 5.64% until 30th June 2011 and a discounted rate of 1.10% for 3 Years at 5.15%.
Both products come with the following features:
- Early redemption charge of 5%, if redeemed within the fixed rate or discount term (no overhangs)
- Available up to 85% loan to value
- Free valuation
- £449 completion fee
- Rental cover of 130% calculated using the pay rate
- Procuration fee of 0.50%
Marketing director, Justine Tomlinson, said: “Confidence within the buy to let market remains high and, according to research published recently by the Homebuyers Show, over 72% of investors are planning to buy investment properties within the next 12 months. What’s more, over 68% of investors are relying on buy to let investments for their future wealth.
The buy to let products launched today are highly competitive and come with the added benefit of a free valuation. I’m sure that they will be a big success with our members.”
