The 10 to Let product, which offers an initial pay rate of 5.1%, has a range of flexible features, giving buy-to-let borrowers more options in the way they handle their investments. Periods of no rental income can be better managed using the flexible options such as the underpayment option or payment holiday facility.
Nic Ekin, product manager at Pink Home Loans, comments “The complete flexibility of the 10 to let product means investors can manage their finances far more easily irrespective of whether they have one property or a portfolio of properties.”
Key selling features
- Flexible features including drawdown facility, overpayments, underpayments and payment holidays
- Available to first time buyers
- No early repayment charges
- No additional mortgage security fee
- Up to 10 properties per portfolio with the HBOS group of companies
Product details
- Funded by: The Mortgage Business
- Product: 10 to Let - 1% discount until 31/07/05
- Underlying rate: SVR (6.10% from 01/03/04)
- Max LTV: 85% up to £1 million
- Max portfolio: Up to £2.5 million
- Early repayment charges: None
- Broker commission: Up to 0.50%, max £2,500 (loans over £500,000 - by negotiation)
- Arrangement fee: 1% of advance for each property (added to loan)
- Contact: For more information visit www.pink.uk.net
