The linkup will include a buy-to-let (BTL) three-year tracker at 1.04 per cent above Bank Base Rate (BBR), which will give a current pay rate of 5.79 per cent. Loans are up to 90 per cent remortgage loan-to-value, with a completion fee of £899 and early repayment charges of 5 per cent in the first three years.
The product has a rental calculation of 100 per cent at pay rate, and overpay of 10 per cent per year.
The offering will also include six adverse products, with two options each on light, medium and heavy three-year trackers. Rates will start from 1.89 per cent above BBR for three years. A two-year tracker for prime self-cert at 0.99 per cent above BBR will also be available through the Mortgage Times website.
Christopher May, director of The Mortgage Times Group, said: “We are currently one of the largest buy-to-let distributors in the UK and we have joined forces with edeus to strengthen our service offering to our mortgage club members.
“Buy-to-let has become one of the fastest growing sectors in the market, and by offering a wide choice to brokers I believe we can add significant value to our network proposition.”
Rod Murdison, proprietor of Murdison & Browning, commented: “It’s very attractive that the BTL product has a low interest rate with a low rental calculation. But I’ve noticed arrangement fees have been leaping up and as a broker you need to do your calculations very carefully to see how much it will actually cost over the term. But this product may win out on LTV and the ability to overpay. Those potentially outweigh the arrangement fee.”
