Society Launches Competitive Buy to Let House Purchase and Remortgage Products

24 August 2015

remortgage products

The Society has launched a new range of two year Buy to Let house purchase and remortgage products.

The fixed rate buy to let house purchase product range offers competitive interest rates and up to 75% Loan to Value (LTV) in the Society’s local area only*.

The Society offers a two year fixed rate buy to let purchase mortgage at 3.74%, with a maximum LTV of 75%. The product has no product fee, and free standard valuation fee.

The range of new products also includes a 60% LTV two year buy to let purchase mortgage at 3.19%, with no product fee and free standard valuation and administration fees. Further information about the product range including full terms and conditions, can be found here.

For customers looking to switch their mortgage from another lender, the Society has also launched a range of competitive two year fixed rate buy to let remortgage products with free legal fees**. The product range includes a two year fixed rate buy to let remortgage at 3.60% with a 75% LTV, and a 60% LTV product with a two year fixed rate of 2.99%, both of which are available in the Society’s local area only* and come with an £840 arrangement fee which can be added to the loan, and a £150 administration fee.

Colin Strong, Head of Lending Procurement, commented: “The Society is pleased to launch this competitive range of Buy to Let products at a time of renewed confidence in the buy to let sector. The combination of low product fees, competitive interest rates and the added benefit of a free valuation and legal fees in some cases, means that these products will prove very attractive to Buy to Let Landlords.”

Geographic Restrictions

* The Society's local geographical area is defined as postcode areas: NP, CF, SA, LD, WR, GL, HR and BS. See individual product information for full terms and conditions.

Legal Fees

** You will not have to pay the usual legal fees if the Society’s appointed solicitors are used. Our solicitor acts for the Society only to ensure we have good legal claim over your property. (You will have to pay for any additional legal work that the solicitors do which is beyond the usual scope of a simple remortgage, for example, change of your name, transfers of equity, deeds of postponement, merger of freehold and leasehold).

If you fail to keep up with payments on your mortgage, a ‘receiver of rent’ may be appointed and/or your rental property may be repossessed.

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