The product is BBR minus 0.50 per cent, currently 4.75 per cent, and carries a fee of £1,499 and a rental calculation of 125 per cent based on BBR plus 0.50 per cent (5.75 per cent).
Dev Malle, director of mortgage distribution at Personal Touch, said: "At a time when we have experienced rate creep on buy-to-let products it is refreshing to be able to offer a product which undercuts the bank base rate by half a percent. The flat fee stacks up when you put it against the product rate and in particular larger loans. We already offer a two-year tracker exclusive with BM Solutions at 5.44 per cent with a rental calculation of 110 per cent. When you take the two products together they provide an excellent cascade opportunity. Both products provide a combination of rates and flexibility to make this a great buy-to-let deal for intermediaries."
