Principality Buy to Let – new range starts with a 1.99% rate!

by Neil Patterson

16:32 PM, 18th November 2013
About 6 years ago

Principality Buy to Let – new range starts with a 1.99% rate!

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Principality Buy to Let – new range starts with a 1.99% rate!

Principality Buy to Let have launched a massively improved new product range only available via brokers, but I have added them to our Buy to Let Mortgage Calculator and Sourcing system.

The Headline grabber is a 1.99% two year tracker BBR + 1.49% until 30/11/2015 with a maximum 60% Loan to Value and a 2.5% Product Fee. This also comes with a Free Valuation and Legals for a remortgage. Reverts to standard variable rate currently 4.99%.

This could be great value on a smaller remortgage, because of the percentage fee and free Val/Legals.

Other stand out products:

All including Free Valuations and Legals for a remortgage

2.99% Penalty free two year discount max 60% LTV, Product fee 1%

3.19% Two year discount max 70% LTV, product fee £999

3.49% Two year discount max 75% LTV, product fee £999

These are not high LTV products, but could be great value in the right circumstance, or you could even add the Castle Trust equity loan!

Standard Criteria for Principality:

  • Minimum Loan amount £25,000
  • Minimum Property Value £50,000
  • Minimum earned Income £20,000 or £30,000 for joint applicants
  • Maximum of 5 BTL properties with all lenders
  • Stress tested at 5.99% notional rate and 125% interest cover allows you to borrow 160.26 times the monthly rental income
  • Maximum age at end of term 69

For more information on the above products and to source a Buy to Let quote please Click Here

or if you need assistance and advice arranging a mortgage:

Email: Info@property118.com

Call: 01603 489118Principality Buy to Let



Comments

Puzzler

16:45 PM, 3rd December 2013
About 6 years ago

Reply to the comment left by "Howard Reuben" at "20/11/2013 - 08:07":

Thanks Howard, very disappointing as I have more than 5! Also contradict themselves, how odd 🙁

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