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Mortgage Next launches fixed buy-to-let

Mortgage Next has launched a one-year fixed rate buy-to-let mortgage, funded by Mortgage Trust.

The product is available via members of the Mortgage Next Network and brokers registered with Mortgage Next Partners.

The product comes with an initial charging rate of 4.78%, followed by LIBOR plus 1.95% for the remainder of the loan.

The product has an early redemption charge of 6%, with an arrangement fee of 799.

There is a maximum LTV of 85%, and has a minimum loan amount of 30,000.

Justine Tomlinson, marketing director at Mortgage Next, says: A combination of an undersupply of housing, high house prices relative to incomes and high levels of immigration mean that there continues to be significant demand for rented accommodation.

This exclusive fixed rate buy-to-let mortgage provides borrowers with the certainty of a fixed rate for an initial 12 moth period and I have no doubt it will prove to be popular with prospective landlords.

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