Society Launches New Range of Buy-to-Let House Purchase and Remortgage Products

6 April 2017

Keys

The Society has launched a new range of two year buy-to-let house purchase and remortgage products.

The buy-to-let house purchase product range offers competitive fixed and discount interest rates at up to 75% loan to value (LTV) in the Society’s local lending area only*.

The Society offers a two year discount rate buy-to-let purchase mortgage at 2.00%, with a maximum LTV of 75%. The product has a £995 product fee which can be added to the loan. A £150 application fee and a valuation fee are also payable.

The range also includes a 75% LTV two year buy-to-let fixed rate purchase mortgage at 2.10%. This product has a £995 product fee which can be added to the loan and a £150 application fee. A valuation fee is also payable. Further information about the product range including full terms and conditions, can be found here.

For customers wishing to remortgage to a better deal, the Society has also launched a range of competitive buy-to-let remortgage products which feature no application fee, assisted legal fees** and one free standard valuation***. The product range includes a two year discount rate buy-to-let remortgage at 2.30% with a 75% LTV and a £995 product fee which can be added to the loan, as well as a buy-to-let remortgage product with a two year fixed rate of 2.40% at 75% LTV with a £995 product fee.

Colin Strong, Head of Broker Sales, commented: “I’m very excited to launch this competitive range of buy-to-let products which will no doubt prove extremely popular with customers old and new. The interest rates compare favourably with other providers in the industry at the moment and applicants benefit from the Society’s personal and flexible approach to lending, making them an ideal option for landlords throughout our local lending area.”

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.

Geographic Restrictions

* The Society's local lending 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

** As this is a ‘fees assisted’ remortgage we will pay the law firm’s basic professional fees in connection with the remortgage. There will be additional costs that you will need to pay, e.g. telegraphic transfer fee. Where any non-standard work is required to complete the conveyance these costs must also be met by you, examples of chargeable fee include change of name, transfer of equity, deed of postponement, merger of freehold/leasehold, remedy of title defect, satisfying special conditions, etc.

Standard Valuation

***One Free Standard Valuation (on properties up to £1 Million in value)

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