Local buy-to-let mortgage providers come up trumps

During the boom years in buy-to-let when landlords had an endless supply of buy-to-let mortgages from all the large national providers. Then the credit crunch and many of the large names disappeared from the buy-to-let mortgage market.

This has allowed many local building societies to come into their own. They continue to provide very attractive buy-to-let mortgages and rates for local landlords. So if you are looking for a good deal then 'check out' you local lenders too.

A couple of such local deals are provided by the Cambridge BS and the Loughborough BS.

The Cambridge for exmapmle has re-entered the buy-to-let market with a buy-to-let mortgage products including a 2 year fixed rate of 4.99% product and a variable rate of 3.99% for 2 years. Both are available up to 70% LTV and have a fee of 3.5% but are limited to landlords living in East Anglia.

The Loughborough has just launched a 5.99% 3 year fixed up to 70% LTV with a fee of £999. The buy-to-let loans are only available for restricted postcodes within the East Midlands.

Both products highlight the fact that local building societies continue to be a strong source of lending for landlords following the dramatic contraction in buy-to-let lending available in the market place.

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