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Saturday, July 11, 2009

Buy-to-let mortgages Shepshed makes a welcome return

After withdrawing from the market the Shepshed BS has made a welcomed return to the buy-to-let mortgage market with several new buy-to-let mortgage products including: a new 2 year tracker rate of 4.95% above based or 5.45% , a standard variable mortgage of 5.54% and a 2 year fixed rate of 5.95%.

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Neither of these are the best rates but with a flat fee of only £999 and up to 75% LTV there are attractions to these buy-to-let mortgage products.

NEW VARIABLE TRACKER RATE MORTGAGE: 5.45% for 2 years, max 75%, fee £999, BBR + 4.95% for 2 years. NEW STANDARD VARIABLE RATE MORTGAGE: 5.54% for term, max 75%, fee £999. NEW FIXED RATE MORTGAGE: 5.95% for 2 years, max 75%, fee £999. W.e.f. 8.7.09.

Most lenders have been siting on their hands this week whilst they awaited the the MPCs decision on interest rates so I would expect more news next week as lenders respond to the Bank's recent decision.

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