Precise Mortgages launches new 3-year fix through Buy to Let Club

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Precise Mortgages has launched an exclusive limited company buy-to-let three-year fixed rate mortgage through Buy to Let Club.

The product is fixed at 3.54 per cent until 31 October 2019 up to 75 per cent LTV.

It has an arrangement fee of 1.5 per cent. Early repayment charges are 3 per cent until 31 October 2017, followed by 2 per cent in the following 2 years.

The revert rate is LIBOR plus 4.42 per cent.

Precise Mortgages managing director Alan Cleary says: “We work closely with Buy to Let Club in mortgage product design and this type of product is growing in popularity and I expect it to be a popular choice amongst brokers and landlords.”

Buy to Let Club managing director Ying Tan says he has seen a rise in the number of buy-to-let loans applied for via limited companies.

Tan says: “We saw an unusually high number of limited company applications in June this year totalling 22 per cent of our packaged cases and July has proved to be another strong month.

“We are seeing limited company rates falling as competition in the market heats up in preparation for the tax changes in 2017 and landlords are clearly taking advantage of this.”