The product offers a rate of 4.79% (from 01/06/04) with the 1.50% discount extended until 01/08/06. The buy-to-let investor can make use of a £2.5 million portfolio limit and can purchase up to 5 properties.
Nic Ekin, product manager at Pink Home Loans, comments: “This is a great buy-to-let product that offers no redemption penalties and a drop- lock option. First time buyers are acceptable and properties such as studio flats, freehold flats and ex-local authority properties are considered.”
Key selling features
- Competitive rate
- No redemption penalty
- Total portfolio limit £2.5 million
- Up to 5 properties per portfolio
- Drop- lock option
- Studio flats, freehold flats, flats above commercial premises and ex-local authority considered
- First time buyers acceptable
Product details
- Funded by: The Royal Bank of Scotland
- Product: Buy to Let
- Rate: 4.79%
1.50% discount until 01/08/06
- Max LTV: 80% up to £500,000
- Early repayment charges: None
- Rental yield: Annual gross rental income should be at least 10% of the loan
- Broker commission: Up to 0.50%
- Arrangement fee: £295
- Other: Direct submission only
Contact: For more information visit www.pink.uk.net
