Precise Mortgages has announced two new buy-to-let fixed rate products available only though Buy to Let Club.
The two mortgages, available to purchase or remortgage for named borrowers or limited companies, come in two- and five-year flavours.
The five-year fix is available with up to 75 per cent LTV and is stressed at 3.45 per cent. Borrowers can access a maximum of £3,000,000 and early repayment charges are 4 per cent for the first two years, then 3 per cent for years three and four, and finally 2 per cent in the fifth year.
The new two-year fix comes in at 2.29 per cent with a product fee of 2.50 per cent, again with a maximum loan of £3,000,000. It is available on up to 75 per cent LTV, and the first year attracts an early repayment charge of 4 per cent, and 3 per cent in the second.
Buy to Let managing director Ying Tan says: “Limited company rates remain in high demand as landlords look at ways to mitigate the tax relief changes that came into effect last year, so the fact that both the two- and five-year products are available for limited company applications as well as individuals makes them an attractive proposition.”
Precise Mortgages managing director Alan Cleary adds: “Our businesses work closely together to bring out great products that we believe will be attractive to intermediaries and their customers.”