85% buy to let mortgages available through Trinity Financial
Banks and building societies have been making more buy to let mortgages available and there are some great options to choose from - as long as you have a good deposit.
Trinity Financial has access to two-year fixed rate at 5.99% for investors with a 15% deposit. It is available exclusively through the Kent Reliance Building Society and the arrangement fee is 1% of the loan amount.
Very few lenders offer buy to let mortgages if you have at 15% deposit, but there are more options if you can raise a 20% deposit. For example, The Mortgage Works offers a two-year fixed rate at 4.99% and it has 3% arrangement fee.
The number of buy-to-let mortgage products on the market has increased by 104% over the past three years, from 237 in October 2008 to 483 today, according to analysis by Defaqto.
Northern Rock is running a promotion where they will give £750 cash-back on completion on any of their buy to let mortgages.
Godiva Mortgages has some of their cheapest and most initiative mortgages. They have just launched a range of fixed rates that are fully flexible and early repayment charge free. Their two-year fix at 3.99% has a £950 arrangement fee and a free property valuation and no charges for repaying the mortgage early. They also offer a unique flexible tracker rate at 3.99% which is capped at 4.99% - it has a £995 fee and a free property valuation.
Paragon Mortgages and The Mortgage Works have a range of more complex mortgages. Both lenders target professional landlords and cannot be accessed directly by borrowers.
28 October 2011
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