In response, the specialist lender has launched a new range of buy-to-let products.
The range includes competitive fixed, discounted and tracker products, all of which are offered up to 85 per cent LTV and no MIG.
There are five products available: a 5.59 per cent fixed until 31 January 2006; a 5.89 per cent fixed until 31 January 2008; a 5.60 per cent two-year discount; a 6.10 per cent lifetime tracker and a 6.45 per cent lifetime tracker with no early redemption charges.
Austin Jelfs, head of sales and marketing at Mortgage Trust, said: “We are extremely excited to be offering this range of competitively-priced products. The slowdown in house prices is tipping the advantage towards buyers and we are certain that buy-to-let investors can make the most of their increased bargaining power.
“Our new range boasts a significant reduction in the rates we’ve been able to offer in previous months and we are certain that with such a broad range borrowers will find a product ideally suited to their individual investment needs.”
Rod Murdison, proprietor of Murdison & Browning, said: “Mortgage Trust are, in general, a good bunch to deal with. The interest rates across the range are very attractive on paper but the fact that there is an arrangement fee of 1 per cent on the fixed rates and on the two-year discount makes them not so attractive over a large loan.”
