New buy to let rates launched

by Aaron Strutt

Sep 01 2010

Birmingham Midshires have launched two new buy to let mortgages aimed at investors with a 40% deposit. They now offer a two year fixed rate at 4.65% and it has an arrangement fee of 1.5%, also a three year fixed rate at 5.65% and it has an arrangement fee of 2%. Both mortgages have a maximum loan size of £1million and have a refund of the property valuation fee and £300 cash back. This is paid directly to you solicitor on completion. Birmingham Midshires also offer a two year fixed rate at 4.50% and it comes with cash back of £790 - this is paid on completion.

Godiva Mortgages (part of the Coventry Building Society) are offering some very cheap buy to let fixed rates. Their five year fix is priced at 4.99% and it has a very low arrangement fee of £250. Investors will need a rather large deposit at 50% to access the mortgage, but the lender provides a free property valuation and it is available for remortgages. For those that do not want to tie themselves in for five years, Godiva offer a three year fixed rate at 4.99% and you will need a 35% deposit. This rate also comes with a free property valuation and a £250 arrangement fee.

Trinity Financial does have access to buy to let mortgages that require a deposit of 20%. Fixed rates start at 4.99% and arrangement fees can be up to 3% of the loan amount. For those with a 25% deposit, we also have access to a two year fix at 4.80% with a 2.5% arrangement fee or, a three year fix at 5.78%. This has a slightly lower arrangement fee at 2.25%.

January 14, 2011