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:
Call: 01603 489118