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Mortgage Trust releases new buy-to-let rate

Tue, 25 Jul 2006

Mortgage Trust has announced that it will be offering a new buy-to-let two-year fixed rate mortgage product with an interest rate of 4.55 per cent.

The MT Select Buy-to-Let's rate will be available on the product until September 30th 2007, when it will convert to a fixed rate of 5.18 per cent until September 30th 2008.

Commenting on the product, Austin Jelfs, head of sales at Mortgage Trust, said: "We are extremely pleased to be able to offer our MT Select packaging partners this great deal.

"At Mortgage Trust we are dedicated to providing both borrowers and intermediaries with products that represent good value and offer viable buy-to-let solutions.

Mr Jelfs added that the mortgage lender feels that because of the product's attractive rate, it will prove to be "very popular".

The buy-to-let mortgage has a one per cent arrangement fee which is capped at £1,500 and no redemption penalty beyond the initial two-year period.

Interest on the buy-to-let mortgage is calculated daily and the minimum value for lending is £30,000.

Mortgage Trust was formed in 1986 by a number of Scandinavian mortgage lenders.

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