Principality 3.64% tracker launched

Principality BS has reduced it's variable tracker buy-to-let mortgage rate by 0.1% to give a new rate of 3.64%.  The rate is based on the Bank of England Base rate currently at 0.5% and is calculated by BBR + LOADINGS.

The fee on this buy-to-let mortgage has also been reduced from 3% to 2.5%.  This mortgage is available up to a maximum of 60% LTV which will limit it's appeal for some landlords.

Landlords looking to reduce their fees should also look at Principality's 4.19% tracker which also offers incentives for remortgages of free legal fees as well as a fixed application fee of £999 and has been rated a Moneyfacts BEST BUY product.

NEW VARIABLE TRACKER RATE MORTGAGES: 4.19% to 31.12.12, max 60%, fee £999, with incentive for remortgages of free legal fees; 3.64% to 31.12.12, max 60%, fee 2.5% of advance. Above tracker rates are based on BBR (currently 0.50% + loadings).
FIXED RATE MORTGAGE of 4.69% to 31.12.12 

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