The mortgage is available up to 60 per cent loan-to-value and has a £2,249 arrangement fee and £250 booking fee. It also offers a free valuation for properties up to £1m and there are no early repayment charges.
The rental cover for the loan is 135 per cent at 2.69 per cent.
The Buy to Let Business managing director Ying Tan says: “ This incredibly low rate is ground-breaking for the buy to let sector. In all my years I have never seen such a low rate for buy to let and given a flat fee, free valuation and no early repayment charges it has blown me away.”
Hinckley & Rugby business development manager Carolyn Thornley-Yates says: “ Following a very strong start to the year we are looking to further increase application levels by offering this market-leading exclusive product to The Buy to Let Business.”