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Mortgage Express launches buy-to-let products

Mortgage Express has launched a range of buy-to-let products, including a three-year discount mortgage.

The products are a three-year discount at 5.49%, a minimum loan of 150,000 and a 5% early repayment charge for the first three years.

A three-year discount with a pay rate of 5.69%, a minimum loan of 60,000 and a 5% early repayment charge for the first three years.

And a one year discount at 3.49%, with a minimum loan of 60,000 and 5% early repayment charge for the first three years.

For both of the three year discount rate deals, the 130% rental cover is calculated by applying the advertised pay rate.

For the one year discount rate deal, the 130% rental cover is calculated by applying the buy-to-let variable rate which is currently 6.5%.

Mortgage Express is the UK’s biggest buy-to-let lender and has won a number of industry awards including the Mortgage Strategy best buy-to-let lender.

Tim Sturley, head of business development, says: ”We are committed to maintaining our market-leading position by offering great products and a consistent standard of customer service.

”Brokers and their customers will no doubt be pleased with these new deals, which will help them to take advantage of the many investment opportunities that continue within the buy-to-let market.”


Dear Delia

John is a first-time buyer looking to buy a £165,000 flat with his partner. He has been in his job for just four months – he earns £22,000 and last month satisfied a £500 CCJ. His partner earns £24,500 and has no debt. Her parents have offered to pay the 10% deposit on the property as a gift. What options are available to them?

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