Charcol launches buy-to-let lifetime tracker

Charcol has launched a buy-to-let lifetime tracker mortgage pegged at 0.85% above base rate – giving a current pay rate of 4.85%.

The mortgage is available up to 75% LTV and offers 0.5% cashback to help buy-to-let investors with purchase or remortgage costs.

Ray Boulger, senior technical manager at Charcol, says: “This deal offers superb value for buy-to-let investors who don&#39t need to borrow more than 75% of the property value. In addition, because the pay rate is used to calculate rental cover this deal will be available to many borrowers who may not be able to meet other lenders&#39 rental cover requirements.”