Included in this buy-to-let core range are two fixed rate products, both of which have flat arrangement fees. Three Bank Base Rate tracker products have also been unveiled, a development that sees Mortgage Trust move away from its historical 3month LIBOR trackers. All products are available up to 85 per cent loan-to-value and have a rental income calculation based on 125 per cent of a 5 per cent reference rate.
The Mortgage Trust core buy-to-let product range is as follows:
- 5.18 per cent one-year fixed core range product
• Fixed until 31 December 2007
• Flat £699 arrangement fee
• Rental income assessed on 125 per cent of 5 per cent reference rate
• Limited companies & expatriates welcome
• Non flexible
- 5.69 per cent three-year fixed flexible core range product
• Fixed until 31 December 2009
• Flexible
• Flat £699 arrangement fee
• Rental income assessed on 125 per cent of 5 per cent reference rate
• Limited companies & expatriates welcome
- 5.29 per cent two-year Bank Base Rate + 0.54 per cent tracker product
• Tracks Bank Base Rate + 0.54 per cent for two years from completion
• Flat £699 arrangement fee
• Rental income assessed on 125 per cent of initial 5 per cent reference rate
• Limited companies & expatriates welcome
• Non flexible
- 5.49 per cent two-year Bank Base Rate + 0.74 per cent tracker product
• Tracks Bank Base Rate + 0.74 per cent for two years from completion
• No ERCs
• Flat £699 arrangement fee
• Rental income assessed on 125 per cent of 5 per cent reference rate
• Limited companies & expatriates welcome
• Non flexible
- 5.48 per cent fee saver two-year Bank Base Rate + 0.73 per cent tracker product
• Tracks Bank Base Rate + 0.73 per cent for two years from completion
• Free valuation/administration fee
• Flat £699 arrangement fee
• rental income assessed on 125 per cent of 5 per cent reference rate
• Limited companies & expatriates welcome
• Non flexible
Austin Jelfs, head of sales at Mortgage Trust, said: “Our new range of core products provides something for everyone. Whether brokers are looking to offer their clients flat fees, low rates, or specialist product features, Mortgage Trust can help. What’s more our range now also gives brokers the choice between products based on Bank Base Rate or 3m LIBOR. Our aim is to constantly refine and update our products to reflect market demands and we believe that our core range, teamed with our MT Select range, does just that.”
