The buy-to-let product has an arrangement fee of £699 and is available at 4.89 per cent - BBR + 0.39 per cent. It is available until the end of July 2009 after which it reverts to BBR + 1.75 per cent.
It comes with no higher lending charge and has a maximum loan to value of 85 per cent with a rental calculation of 115 per cent at 5.7 per cent.
Sally Laker, managing director of Mortgage Intelligence, said: “This product takes great advantage of the 'no change' in base rate and delivers a low rate with a reasonable arrangement fee, rather than a high percentage-based fee. We have seen a huge demand for this type of product and with the price of fixed rates increasing daily, this is a very attractive tracker rate.”
Mark Howell head of marketing at Bristol & West Mortgages, added: “This competitive exclusive base rate tracker will have wide appeal to buy-to-let investors at a time when fixed rates are becoming less attractive.
“It also demonstrates our continued commitment to the intermediary market and key business partners such as Mortgage Intelligence.”
Early redemption charges are set at 5 per cent until 31 July 2008 and 4 per cent until 31 July 2009.
