The calculation used to assess the rental income required is based on 125% of the product rate which will help landlords achieve optimal gearing. With differing criteria requirements, and product features from the core range, the MT Select range is a streamlined suite of Buy-to-Let products designed to complement Mortgage Trust’s traditional offering and widen its market appeal.
The launch of MT Select is marked by the release of a range of reduced rates, which are available exclusively through MT Select members.
- 2-Year fixed Buy-to-Let rate of 4.79%
- 2-Year fixed Buy-to-Let rate of 5.39%
- 3-Year discount Buy-to-Let rate of 5.45%
- Arrangement fee of £499 on all fixed and discounted products
- Lifetime tracker Buy-to-Let rate of 5.59%
- Arrangement fee of 0.5% on lifetime tracker product
- Rental income calculation 125% of product rate.
- 85% LTV
Austin Jelfs, Head of Sales and Marketing at Mortgage Trust said: “We are extremely excited to be launching MT Select. With recent findings from the CML revealing that 38% of landlords are planning to increase their property portfolios over the next 12 months and a further 48% planning to keep their portfolios at their current levels, we are certain that 2005 is going to be an extremely busy year for the Buy-to-Let sector. As such we feel that now is the ideal time to launch MT Select and this new range of highly competitive products which are exclusively available through our specially selected packaging partners. This new range has been designed to offer borrowers essentials they need at a great rate, with the added bonus of an attractive rental income calculation. By offering the simplified products in this range we are able to provide those investors with straightforward requirements great rates.”
