Specialist buy-to-let lender Mortgage Trust has launched a 5.19 per cent 2-year fixed rate product offers customers a free valuation / no administration fee and is available exclusively through Premier Mortgage Service.
Details of the new product are as follows:
5.19% Fixed Rate Buy-to-Let Product
Fixed until 30th November 2008
Free valuation / administration
85% Loan to value
Flat £699 Arrangement Fee
Available to Expatriates and Limited Companies
APR 6.8%
John Malone, Managing Director of Premier Mortgage Service commented: “We are extremely pleased to be teaming up with Mortgage Trust on this offer. The Council of Mortgage Lenders reported a 17% uplift in buy-to-let mortgage borrowing in the first half of 2006 and this level of activity shows no sign of slowing. With no valuation fee, no admin fee and an extremely competitive rate we are certain that our members will be extremely keen to utilize this offering in the current market environment.”
Austin Jelfs, Head of Sales at Mortgage Trust added: “With the recent bank of England interest rate rises still fresh in our memories, some property investors will be looking for the certainty of a fixed rate. This product allows investors to fix their mortgage payment with the added bonus of a free valuation and no admin fee.”
