Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 4 weeks ago 47
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
If you would like our preferred mortgage broker to help you decide what is the best BuytoLet mortgage for you and arrange an agreement in principle please fill in your details below.
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