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Tuesday, November 30, 2010

Fee FREE BTL mortgage

Any landlord peeved at having to shell out thousands in the application fee for their buy-to-let mortgage will welcome the latest buy-to-let mortgage from The Mortgage Works.

Their fee free 2 year fixed rates are not the cheapest buy-to-let mortgage available with the lowest rate  at 5.74% to 28.2.13.  It is only available up to a maximum of 65% LTV requiring a landlord to find a minimum deposit of 35%.

The Mortgage Works also provides a fee free buy-to-let loan, again fixed for 2 years and available up to 75% LTV.  The interest rate charged on this buy-to-let mortgage is 0.5% higher at 6.24%.

Landlords attracted by this no fee option will have to calculate carefully the potential savings that could be made in interest charges by paying a fee but also accessing a lower interest rate product.

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