Principality drops leading rate variable tracker to 3.39%

Principality BS has reduced it's market leading buy-to-let mortgage variable tracker rate to 3.39%.

The tracker rate to 31.3.12 has been reduced 0.1% from 3.49% to 3.39%. The fee for this buy-to-let mortgage remains unchanged at 3.5%. Unfortunately the LTV available on this buy-to-let mortgage is on the low side at only 60% so the mortgage would not be suitable for landlords looking to gear up their portfolio.

Moneyfacts has given this buy-to-let mortgage a full 4 stars out of 5 on the basis of it's competitive interest rate. The full range of their revised buy-to-let mortgages are given below:

NEW VARIABLE TRACKER RATE MORTGAGES: 3.39% to 31.3.12, max 60%, fee 3.5% of advance, BBR + 2.89% to 31.3.12; 3.89% to 31.3.12, max 60%, fee 2.5% of advance, BBR + 3.39% to 31.3.12.

FIXED RATE MORTGAGE of 4.69% to 31.3.12 withdrawn & replaced.

NEW FIXED RATE MORTGAGE: 4.59% to 31.3.12, max 60%, fee £999, with incentive for remortgages of free legal fees. W.e.f. 19.2.10.


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