The MT Select deal has the initial rate of 4.55 per cent, fixed until 30 September 2007, followed by a competitive rate of 5.10 per cent fixed until 30 September 2008. Along with a competitive rate, this product also offers a rental income calculation of 125 per cent of 4.55 per cent.
Two-year stepped fixed MT Select buy-to-let:
• Two-year stepped fixed buy-to-let rate of 4.55 per cent for year one followed by 5.10 per cent for year two
• Rental income calculation based on initial rate of 4.55 per cent
• 1 per cent arrangement fee capped at £1,500
• No redemption penalty beyond two-year fixed period
• 85 per cent loan to value
Austin Jelfs, head of sales at Mortgage Trust, said: “We are extremely pleased to be able to offer our MT Select packaging partners this great deal. At Mortgage Trust we are dedicated to providing both borrowers and intermediaries with products that represent good value and offer viable buy-to-let solutions. With a rental income requirement and a product rate as attractive as this, we are confident that this product will prove very popular.”
