New Buy-to-Let Deals on the Market
By |Published On: 22nd October 2015|

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New Buy-to-Let Deals on the Market

By |Published On: 22nd October 2015|

This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.

The end of the year, usually a quiet time for the property market, could experience heightened activity in the buy-to-let sector, as mortgage lenders compete to introduce new products.

Aldermore Bank, Coventry Building Society and 3mc have all revealed new mortgage rates for buy-to-let investors.

New Buy-to-Let Deals on the Market

New Buy-to-Let Deals on the Market

Aldermore has launched a new limited edition remortgage deal, including its lowest ever five-year buy-to-let fixed rate.

The range includes five-year fixed rates from 3.99% up to 80% loan-to-value (LTV), with the rental calculation based on the product pay rate.

It has also cut its reversion fees by 1% and introduced free legal fees on its standard range.

This deal is available on all new business applications across Aldermore’s standard and specialist buy-to-let ranges and includes a 1.5% completion fee.

Group Managing Director at Aldermore, Charles Haresnape, says: “There has never been a better time to take advantage of historic low interest rates and our new limited edition offering is available on a first come, first served basis.”1 

The Coventry Building Society has improved its five-year buy-to-let range, including a deal at a 3.35% rate up to 65% LTV.

This mortgage is booking fee free and includes a valuation of up to £700. It has early repayment charges of 5% until 31st January 2017, 3% to 31st January 2019 and 1% until 31st January 2021.

National packager and mortgage club 3mc, based in Cheshire, is now trialling Foundation Home Loans’ (FHL) new limited company buy-to-let product before its formal launch in November.

The product includes six fixed rate deals over two, three and five years, starting at 4.19% for two years up to 65% LTV.

Clients are able to purchase an existing property in a company name using a director’s loan.

Managing Director of 3mc, Doug Hall, explains why a limited company buy-to-let may be a viable option for landlords: “The effect of the Chancellor’s move to restrict tax relief will accelerate the need for more established landlords to look carefully at how they best manage their portfolios in a way that continues to maximise rental yields and minimise costs.

“These products from FHL will provide new options for brokers with landlord clients.”1


About the Author: Em Morley (she/they)

Em is the Content Marketing Manager for Just Landlords, with over five years of experience writing for insurance and property websites. Together with the knowledge and expertise of the Just Landlords underwriting team, Em aims to provide those in the property industry with helpful resources. When she’s not at her computer researching and writing property and insurance guides, you’ll find her exploring the British countryside, searching for geocaches.

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