Newbury Building Society has cuts the rates on its buy-to-let mortgage range, including its products for limited companies.
Rates have been cut by up to 0.25 percentage points.
As a result of these changes, Newbury BS is now offering a limited company buy-to-let deal at 2.99 per cent (down from 3.2 per cent).
It is also offering both a three-year and five year buy-to-let discount mortgage, at a rate of 2.75 per cent (down from 3 per cent). All of these mortgages are at 75 per cent LTV.
This rate reduction follows the launch of Newbury’s new buy-to-let affordability calculator, which uses rental coverage of 135 per cent at an interest rate of 5.5 per cent, and also takes into account top-slicing.
Newbury Building Society’s lending manager Roger Knight says: “We’ve taken steps to strengthen our buy-to-let offering. Not only have we launched a new calculator that considers top-slicing, we have now reduced the price of our buy-to-let products for individuals and limited companies.”
He said the Society aimed to support first-time landlords, smaller scale landlords as well as more seasoned property investors interested in growing their buy-to-let portfolios.