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The Mortgage Lender unveils its first five-year fix with three-year ERC

Posted Wednesday 28th of November 2018
Announcements

The Mortgage Lender has unveiled its first buy to let five-year fixed rate product with a three-year early repayment period and rates starting from 4.05 per cent.

The range is available up to 80 per cent loan to value and is available through selected distribution partners including members of the L&G Key Account Panel and our network partners.

Completion fees range from 1.5 per cent for individuals and Limited Company applicants to 2 per cent for Houses in Multiple Occupation and Multi-Unit Block borrowers. And the early redemption fee is 5 per cent in years one and two dropping to 4 per cent in year three.

The Mortgage Lender deputy chief executive Peter Beaumont said: “There is uncertainty in the housing market and we wanted to give brokers and their customers a longer-term fixed rate with the flexibility to move after year three without penalty if that makes sense for a landlords’ portfolio.

“It also demonstrates how we’re doing things differently, responding to market demand and giving brokers flexibility in how they structure the borrowing on their customers property portfolios.”

BTL 5-year fixed rate with 3 year ERC

Mortgage Type LTV Individual Ltd Company HMO & HUM
5-year fixed 70% 4.05% 4.09% 4.15%
5-year fixed 75% 4.15% 4.15% 4.25%
5-year fixed 80% 4.75% 4.88% 5.05%
App fee   £150 £150 £150
Comp fee   1.5% 1.5% 2%
TT fee   £30 £30 £30

 

 

By Joanne Gill , of The Mortgage Lender

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