Mortgage Trust unveils its new buy to let package

by Property118.com News Team

14:51 PM, 31st May 2011
About 8 years ago

Mortgage Trust unveils its new buy to let package

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Mortgage Trust unveils its new buy to let package

Mortgage trust logoA new range of six buy to let mortgage products has been released by Paragon’s Mortgage Trust today, as well as two ‘Rapid Remortgage’ deals.

The three fixed mortgage rates range from 4.89% to 5.09% with three tracker rates between 4.3% and 4.5%, they will only be available via intermediaries for purchase and remortgage.

The new Mortgage Trust Rapid Remortgage deals will be a two-year tracker at 3.99% and a two-year fixed at 4.99%, both at 75% LTV. They must be done by 29th July and will boast a 1% product fee along with free legals and valuation.

John Heron, Mortgage Trust MD is hopeful, saying: “These products offer attractive rates and criteria and we are confident they will appeal to intermediaries and landlords from across the spectrum. We have been pleased with the strong response to Mortgage Trust’s return to the market in April and believe these products will cement Mortgage Trust’s position as a major brand in the buy-to-let market.”

The package contains:-

Fixed

  • 2 year fixed at 4.89% (65% LTV)
  • 2 year fixed at 4.99% (70% LTV)
  • 2 year fixed at 5.09% (75% LTV)

Tracker

  • 2 year tracker at 4.30% (65% LTV)
  • 2 year tracker at 4.40% (70% LTV)
  • 2 year tracker at 4.50% (75% LTV)

Rapid remortgage

  • 2 year tracker at 3.99% (75% LTV)
  • 2 year fixed at 4.99% (75% LTV)

Applications for the buy to let mortgage will only be available through www.mton-line.co.uk and all applications are subject to a fast track credit score based underwriting process. There will be a 1.75% product fee and the rental calculation is based on 125% at 5%, or the product rate if greater.



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