Mortgage Trust has launched a new suite of fixed rate products across its MT Select and core product ranges.
The first of these products is a MT Select two-year stepped fixed rate product with a headline rate of 4.82% fixed until March 31 2008. The rental income is based on 125% of 4.82% and the arrangement fee is 1% capped at £1,500.
The second product from MT Select, which has a flat arrangement fee and is fixed at 5.29% until March 31 2009.
Mortgage Trust has also launched two core range fixed-rate products. Available to Limited Companies and expatriates, as well as standard borrowers Mortgage Trust core products provide more specialist buy-to-let funding solutions.
The first of the core range products is priced at 5.25% and is fixed until March 31 2008, whilst the second, priced at 5.89%, is fixed until March 31 2010.
The products are offered with a low flat arrangement fee of £699, there are no overhanging early redemption charges and both products are available with a rental income requirement of 125% of 5%.
Austin Jelfs, head of sales at Mortgage Trust, says: “With the latest figures from the Department of Communities and Local Government reporting that there are now an estimated 2.5 million private renters in England, a 22% increase since 2001, it is clear that the attitude to renting has undergone a significant shift.
“Our new range of fixed rate buy-to-let products caters for a wide variety of property investment funding requirements.”