The company has also responded to feedback from brokers by offering two different rates to 75% and 85% loan to value on these BTL EasySwitch products.
The new 3 year base rate tracker products in the BTL EasySwitch range are:
3 Year Base Rate Trackers to 1/7/2007
To 75% LTV To 85% LTV
4.99% (APR 5.7%)
0.99% above Bank of England base rate 5.25% (APR 5.8%)
1.25% above Bank of England base rate
Free Valuation*
Legal fees paid**
Available for remortgaging, home improvements and deposits for additional properties
Available in England, Wales and Northern Ireland
Early Repayment Charge: 5% of the sum repaid to 1/7/06, then 4% to 1/7/07
Reverts to BBR + 1.75%
£299 arrangement fee
* We must instruct the valuation, which is free up to £500. Homebuyers reports are not covered by this scheme.
** Choice of legal fees paid using our nominated solicitor or a £250 contribution (legal fees paid option not available in Northern Ireland).
Commenting on the enhanced products, Roland McCormack, Managing Director says: “We are still confident that there is growth in the BTL market. We have seen a lot of good quality business coming through and this has been reflected in the split rates to 75% and 85% loan to value. By adding a free valuation, we have also taken away a lot of the upfront costs and hassle associated with remortgaging.”
For further information on the Buy-to-Let EasySwitch range call the Broker Hotline on 0118 968 4333.
