Birmingham Midshires offering existing mortgage customers 3.74% four year fix
Birmingham Midshires is offering its existing buy-to-let customers a leading four year fixed rate mortgage.
Fixed at 3.74% until 31 October 2019 the rate offers longer term payment security.
After the fixed period the mortgage reverts to 4.34% over the Bank of England base rate, currently 4.84%.
The mortgage is available to Birmingham Midshires customers providing they have 40% equity in their property and they are looking to borrow between £300,000 and £2 million.
The overall cost for comparison is 4.9% APR and there is a £999 arrangement fee.
Early repayment charges apply until 31 October 2019 and 10% overpayments are allowed each year without charge.
Aaron Strutt, product manager at Trinity Financial, says: “Birmingham Midshires do not deal with existing customers directly and they are expected to speak to a broker if they want to borrow more money or switch to another mortgage. They are offering a lot of product transfer rates at the moment.”
For help to secure another mortgage with Birmingham Midshires, call Trinity on 020 7016 0790
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