The Mortgage Works has unveiled a number of changes to its portfolio, including a new range of stepped buy to let tracker products, with rates from Bank of England Base Rate + 4.14 per cent (4.64 per cent), stepping down to Bank of England Base Rate + 2.14 per cent (2.64 per cent) in the second yearThe Mortgage Works has unveiled a number of changes to its portfolio, including a new range of stepped buy to let tracker products, with rates from Bank of England Base Rate + 4.14 per cent (4.64 per cent), stepping down to Bank of England Base Rate + 2.14 per cent (2.64 per cent) in the second year
These products are unique to the Buy to Let market and offer more choice for customers.
The Mortgage Works is also making selected changes across its product range.
Highlights include:
Let to Buy range extended to 70 per cent LTV, previously 65 per cent LTV, and the introduction of a new 2 year tracker rate at 3.99 per cent, with a 3.50 per cent fee.
New 1 year Buy to Let fixed rate at 3.99 per cent, with a 3.00 per cent fee.
3 year Buy to Let fixed rate with 1.50 per cent fee reduced from 6.24 per cent to 5.99 per cent.
Tracie Pearce, strategic product marketing manager, The Mortgage Works said: "We want to offer our customers choice and flexibility when choosing a mortgage product. The new range features Stepped Buy to Let Tracker products with rates from Bank of England Base Rate + 4.14 per cent (4.64 per cent), stepping down to Bank of England Base Rate + 2.14 per cent (2.64 per cent) in the second year. These products are unique to the Buy to Let market, designed to help landlords budget against potential Base Rate increases."
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Date: 10th, February, 2010 |
Author: Ben Wilkie |
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