The deals include a tracker rate below the current Bank of England Base Rate of 5.25%.
All fixed and discounted rate products include Close’s range of additional benefits. These include 110% of initial payrate and the option to remortgage properties, even if they have been owned for less than six months.
John Taylor, chief operating officer at Close Mortgages, said: “Today’s climate of persistent Base Rate changes has led to many unprepared landlords struggling to meet repayments. What’s more, with additional rises expected in 2007, there’s the possibility that future potential purchasers will be put off the idea of investing in property. That’s why we’ve created a range of products specifically aimed at protecting buy-to-let purchasers from the current uncertain economy.
“The fixed rate products allow our customers to enter the buy-to-let market or to add to their existing portfolio of properties, safe in the knowledge that they can avoid any fallout from further interest rate rises in the coming years. And we believe our discounted rates, combined with our well below market norm rental cover, make for some of the most competitive mortgage products in the buy-to-let market. We want our customers to feel confident and positive about every investment they make, and we think these new rates will lead to that”.
