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Buy-to-let mortgage lender shakes up offerings
Fri, 03 Feb 2006
Mortgage Trust has expanded its MT Select mortgage range with the addition of two new buy-to-let mortgage deals, available exclusively through the mortgage lender's packager members.

Both offering a maximum loan-to-value of 85 per cent, the new buy-to-let mortgage deals have fixed-rate terms of two years and three years respectively.

A mortgage rate of 4.9 per cent applies for the two-year buy-to-let mortgage deal, while the three-year fixed-rate buy-to-let mortgage has a mortgage rate of 4.75 per cent.

Rental income on both buy-to-let mortgage offerings is assessed on 125 per cent of the product rate.

What is more, there are no overhanging early redemption charges and the mortgage lender believes that these will appeal to landlords wishing to expand their existing portfolio or those hoping to find a remortgage .

Austin Jelfs, the head of sales at Mortgage Trust, comments: "With outstanding rates and straightforward requirements, MT Select offers a streamlined finance option providing simplicity and value for money."

The specialist buy-to-let mortgage lender has also announced changes to its fixed-rate core mortgage range.

An extension of four months now applies to the fixed-rate period of these buy-to-let mortgage deals.

The one-year fixed core range buy-to-let mortgage, which offers a mortgage rate of 5.05 per cent, now has its fixed period extended until May 31st 2007.

With its mortgage rate of 5.35 per cent, the fixed period of the three-year fixed-rate core range buy-to-let mortgage is now valid until May 31st 2009.

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