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Monday, December 05, 2016

New 5 year fixed BTL mortgages at 3.79%

Property Hawk Mortgages, the buy-to-let mortgage specialist has launched two new buy-to-let exclusives with Dudley Building Society. Both products are fixed at 3.79% for five years up to 70% loan-to-value and have a 130% at pay-rate rental calculation. The remortgage only version also has a free valuation and assistance with legal fees.

Jane Simpson, at Property Hawk Mortgages, says:

 “We are delighted to launch these new buy-to-let exclusives with Dudley Building Society and expect them to be popular with landlord clients. We have seen a growing interest in five year fixed rates over the last few months and the recent PRA regulations relating to income coverage ratios (ICRs) means that they are likely to be in increasing demand.

The PRA regulations effectively exclude five year fixed rates which means that lenders can set their own ICRs for these products. These buy-to-let exclusives with Dudley have a very achievable ICR of 130% at 3.79% and the Early Repayment Charges only apply for two years, which will make them very attractive to landlords especially as the market is so uncertain at the moment.”
Tel: 029 2069 5446
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