Bank of China launches 3.88% tracker

Bank of China has launched the cheapest term tracker with a 3.88% buy-to-let tracker mortgage.

The mortgage comes along with a flat rate fee of £1695 up to £150,000 and is available up to 65% LTV.

The mortgage is now available to landlords with a portfolio of up to 10 buy-to-let properties.

One word of warning is that I've heard that Bank of China who have only recently entered the UK mortgage market are not the easiest buy-to-let lender to deal with. Therefore any landlord who deals with them will have to be prepared to jump through hoops and meet all their qualifying criteria if they are to be able to secure a mortgage with this lender.

VARIABLE TRACKER RATE MORTGAGE of 4.00% withdrawn & replaced.

NEW VARIABLE TRACKER RATE MORTGAGE available to direct business in major conurbations in England & Scotland: 3.88% for term, max 65%, fee up to £150K - £1695, over £150K to £500K - £2195, over £500K to £1m - £3195 & over £1m - 0.50% of advance (all tiers except over £1m increased by £900 for expatriates & foreign nationals), BBR + 3.38% for term.

PROPERTY PORTFOLIO now 10 properties up to a maximum of £2m. W.e.f. 24.3.10.

Free property management software, Free tenancy agreements