The product provides applicants with the benefits of both a free valuation and free legals for remortgages.
The pay rate is just 5.39% fixed for 2 years and benefits from no extended early redemption charges and no higher lending charge. The minimum loan amount is £40,000 and there is a 2.5% arrangement fee which can be added to the loan.
Chris Smith, New Business Manager at Optoma said: “We have seen continued demand for innovative products which allow But to Let investors to maximize their borrowing potential and this product certainly does that. The addition of free valuations and legals is a real bonus and we expect that this will prove very popular with anyone looking to release equity for further purchases or just secure a good rate.”
