Mortgage Trust has launched its latest fixed rate product with a rate of 5.99% fixed until September 30 2005.
The rental calculation is based on the fixed rate and the product has a maximum LTV of 85% with no early redemption charges applicable beyond the fixed rate duration. Mortgage Trust says the product is ideal for property investors looking for the certainty of a low rate for a set period.
Mortgage Trust also charges no MIG and offers full flexibility giving investors the opportunity to save for further property purchases or budget for rental voids and maintenance costs.
Austin Jelfs, head of sales and marketing at Mortgage Trust, says: “In a volatile interest rate environment this fixed rate product enables borrowers to stabilise their mortgage payments for a guaranteed period regardless of rate changes. In addition, the rental calculation based on the fixed rate provides the degree of extra scope often needed by today's investor, whist still ensuring they are well within affordability constraints.”