The deal, with a current rate of 5.89% is discounted by 1.10% for five years and is available up to 80% Loan to Value with no penalties at any time.
James Cotton, Mortgage Specialist at L&C said, "This deal is aimed at Buy to Let borrowers looking to get a competitive rate without paying high set up costs or broker fees. The lack of redemption penalties will also appeal to those looking to pay down their mortgage by making overpayments."
"An further benefit of this deal is that the 130% rental cover required is calculated at the scheme rate rather than Standard Variable Rate, giving buy to let investors more borrowing potential whether they be remortgaging or purchasing a new property."
