The Residential Buy-To-Let Mortgage has a discount of 1.30% in the first year, offering an initial rate of 4.40%, and a 0.50% discount in year two. In addition the mortgage has flexible features and no compulsory insurance.
Commenting on the product, Jennifer Holloway, head of corporate communications, said, “Stock market performance has led to people taking the safe option and putting their money into more traditional savings accounts. However, those wanting a slightly higher return, with a degree of increased risk, are still considering buy-to-let as a potentially profitable form of investment. This mortgage has been designed specifically to help those investing in property for the first time to ease onto the buy-to-let ladder, with an attractive discount in the first twelve months.”
