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Saturday, May 15, 2010

PO reduces BTL rates

The Post Office has announced this week that they are reducing the rates on some of their fixed rate buy-to-let mortgage by up to 0.4%. To get the best rates though landlords will have to put down a deposit of 40%. LTV's are still available up to 75% but interest on these fixed rates are slightly higher.

The fees for the Post Offices range of buy-to-let mortgages are a flat rate £999 which is pretty good especially for higher value buy-to-let purchases.

Full details of the Post Offices new range of buy-to-let mortgages:


NEW FIXED RATE MORTGAGES for direct business only: 5.59% to 31.7.13, max 60%, fee £999; 5.89% to 31.7.13, max 75%, fee £999; 5.99% to 31.7.15, max 60%, fee £999; 6.49% to 31.7.15, max 75%, fee £999.

NEW FIXED RATE MORTGAGES for direct business only, with incentives of free valuation & for remortgages free legal fees: 5.69% to 31.7.13, max 60%, fee £999; 5.99% to 31.7.13, max 75%, fee £999; 6.09% to 31.7.15, max 60%, fee £999; 6.59% to 31.7.15, max 75%, fee £999.

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