The Mortgage Works lower rates again bringing out 2.99% buy-to-let fix with 3% arrangement fee
Trinity Financial has access to a two-year fix buy-to-let 2.99% rate available for property purchases and remortgages. This product has a 3% arrangement fee.
The Mortgage Works, the buy-to-let lending arm of Nationwide, has been consistently lowering its buy-to-let rates recently, to the point where the headline rates are lower than those of many residential mortgages. The catch is that some of them have larger arrangement fees.
Call us on 020 7016 0790 for help to secure a buy-to-let mortgage or book a consultation.
- Product Type - Buy-to-let fixed rate
- Initial rate - 2.99% - How much will it cost?
- Period - Until 31 July 2027
- Deposit - 35%
- Followed by TMW's Managed Variable Rate, currently 8.49%, for the remaining term of the mortgage
- Arrangement fee - 3% of the loan amount
- Early repayment charges - Yes, until 31 July 2027
APRC
The APRC applicable on this loan is 8.1%. The actual rate available will depend on your circumstances. Please ask for a personalised mortgage illustration.
Mortgage available on an interest-only and capital repayment.
Representative example: A capital and interest mortgage of £400,000 payable over 30 years, initially on a fixed rate basis until 31 July 2027 at 2.99% and then on the lender's standard variable rate, currently 8.49% for the remaining 28 years, 2.99% would require 25 monthly repayments of £1,684.26 followed by 335 payments of £2,986.12. The total amount repayable would be £1,055,291.70 made up of the loan amount, plus interest (£642,458.13) and £12,000 (product fee), £90 (final repayment charge), £20 (completion fee). The overall cost for comparison is 8.3% APRC representative.
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