Limited Edition Buy to Let product tops Trigold Search

by Neil Patterson

15:40 PM, 2nd April 2014
About 7 years ago

Limited Edition Buy to Let product tops Trigold Search

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Limited Edition Buy to Let product tops Trigold Search

Precise Mortgages have launched a limited Edition Buy to Let product range that is topping the Trigold mortgage searches at the moment.Limited Edition Buy to Let

Trigold is a whole of market mortgage search engine used under license by mortgage brokers and IFAs. It is recognised by the FCA as part of the regulated mortgage process to justify products chosen for customers. There are other search engines also available such as Mortgage 2000 and Mortgage Brain.

The products will only be available until the tranche of money has been allocated and includes the headline rate:

  • 2.84% Two year Libor Tracker – Libor (currently 0.53%) plus 2.31
  • Maximum 75% LTV
  • 2.5% fee that can be added to the loan
  • Early repayment charges of 3% year 1 and 2 % year 2
  • Reverts to 5.00% variable after 2 years
  • Stress tested at 125% of 5% which means you can borrow 192 times the monthly rental income

Criteria of interest:

  • No minimum Income requirement, but you must be employed or self employed
  • New build properties are accepted
  • No limit on size of applicant’s portfolio but a maximum of 5 with Precise
  • Available in selected Scottish Postcodes
  • Maximum age 75
  • First Time Landlords are acceptable but not First Time Buyers
  • Minimum property value £75,000
  • Minimum loan amount £25,001
  • No remortgages within 12 months of Purchase
  • No HMOs

Limited Edition product range includes:

2 Year Fixed at 3.04% with a 2.5% fee, 3.44% with a 1.5% fee and 3.79% with a £995 flat fee

3 Year Fixed at 3.64% with a 2.5% fee, 4.04% with a 1.5% fee and 4.29% with a £995 flat fee

2 Year Libor Tracker at 2.84% with a 2.5% fee, 3.24% with a 1.5% fee and 3.49% with a £995 flat fee

If you need any help with a Buy to Let application you can call on 01603 489118 or email info@property118.com

Or if you would like to add your own requirements and search for the most popular available Buy to Let products please click here

Buy to Let Mortgage sourcing system and calculator

Buy to Let Mortgage sourcing system and calculator


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Comments

Howard Reuben CeMap CeRER

19:38 PM, 3rd April 2014
About 7 years ago

Amongst the things that I love about Precise is that they are so innovative and progressive and being a new bank with no baggage they can forge ahead with some brilliant products and services.

Like most, they don't get everything right (who does?), but in our experience they do try and focus on successful completions whatever the issues.

They were amongst the pioneers of the 'bridge to let' product and their range of bridging deals is excellent with some of the lowest rates around.

Is this an advert for Precise? No, I am a whole of market Adviser, however credit where credits due and the article outlines some credible financing opportunities for BTL'ers.

Where else can you borrow 192 times the rental income? 🙂

Anyhow, if Precise is not right for you (and no one is forcing anyone to have a particular product or lender) then using a whole of market, experienced, professional mortgage Broker will always point you in the right direction.

Howard


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