The Sunday Times - Boost for buy-to-let landlords - November 2013
Principality Building Society has launched a buy-to-let mortgage below 2% with a two-year tracker pegged at 1.49 percentage points above Bank rate, so 1.99%. It has a 2.5% arrangement fee, a £99 upfront cost and requires a 40% deposit. The maximum loan size is £250,000.
Aaron Strutt of the broker Trinity Financial told The Sunday Times: “It is highly unusual for a lender to offer a sub-2% buy-to-let mortgage. This shows how keen lenders are to attract more landlords. The lenders are lowering rates and significantly undercutting each other.
“Over the past few years the building societies have had the cheapest rates and lowest fees, but the bigger banks are fighting back with better deals.â€
Click here to view the full story: http://goo.gl/m1uzCM £
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November 18, 2013
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