Mortgage Next launches buy-to-let range

Mortgage Next has launched two three-year buy-to-let mortgages available exclusively via members of the Mortgage Next Network and directly authorised brokers registered with Mortgage Next Partners.

The buy-to-let mortgages, which are funded by Mortgage Express, consists of a discount of 1.26% for three years giving an initial pay rate of 5.24% with a 1% completion fee, and a discount of 1.51% for three years with a initial pay rate of 4.99% with a 1.5% completion fee.

Both products come an early redemption charge of 5% in the first three years, 85% LTV, no higher lending charge, free valuation and a minimum loan of 40,000.

Justine Tomlinson, marketing director at Mortgage Next, says: Compared to this time last year the buy-to-let market is vibrant, driven by strong rental demand that shows little sign of subsiding.

With pay rate starting from as low as 4.99%%, these buy-to-let products are highly competitive and also include a free valuation.

Im sure they will be popular with both brokers and borrowers.