It was announced in the press that The Mortgage Works has today launched a 2.49% 2 year fixed rate, which is correct, but now I have uploaded all their product changes to our BuytoLet mortgage calculator I can see that is not the real story.
More importantly to most BuytoLet investors the products with a higher Loan to Value size have also been significantly reduced. The less you put in the greater your return on capital!
The 2.49% fixed is only a 60% LTV product with quite a high arrangement fee of 2.5%, however for the experienced investor who knows it is better to have cash saved in the bank than tied up in equity you can not reach on a rainy day, there is better news.
Below are examples of the recent product reductions:
2 year fixed 75% LTV fee £995 WAS 4.49% NOW 3.89%
2 year fixed 80% LTV fee 2.5% WAS 4.69% NOW 4.14%
2 year tracker 75% LTV fee £995 WAS 4.29% NOW 3.79%
If you would like to use our BuytoLet mortgage calculator to work out how much you can borrow on each product and the costs please CLICK HERE
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