Godiva Mortgages has today (April 23rd) cut the pay rate on its two-year fixed-rate buy-to-let mortgage .
The provider has decided to reduce the rate on its mortgage product from 4.74 per cent to 4.59 per cent, which represents a cut of 0.15 per cent.
This new product forms part of Godiva's competitively priced mortgage range, which also features a two-year base rate tracker and a flexible rate mortgage .
Colin Franklin, managing director of Godiva Mortgages, said: "We are very confident that introducers will find a buy-to-let product in our range to meet the needs of their clients.
"Our +3.35 per cent tracker has been extremely popular and we are certain that our new reduced fixed rate of 4.59 per cent will be a welcome addition to our competitively priced range".
Meanwhile, Paul Samter, the chief economist at the Council of Mortgage Lenders, claimed recently that the UK mortgage market has barely changed despite a 24 per cent increase in lending activity.
According to Mr Samter, overall housing and mortgage activity remains "subdued" and the market still faces long-term problems.
Godiva reduces rate on its buy to let mortgage
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Godiva reduces rate on its buy to let mortgage
Fri, 23 Apr 2010
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