New tracker buy to let mortgage launched by Coventry.
Coventry Intermediaries has announced the launch of a new buy to let mortgage. The lender's new deal is a capped tracker offered for a 2 year period at base plus 3.30% for 65% loan to value capped at 5.30%.
The new buy to let mortgage deal comes with a £999 arrangement fee and a £250 booking fee, valuations of up to a value of £700 are included in the offer.
Colin Franklin who is the managing director of Godiva has said that Coventry's latest buy to let offer is a great example of mortgage innovation, this new deal is the first of its kind. There are currently no other capped tracker mortgages on offer for buy to let property investors.
He added that Coventry's new deal is a unique product with a competitive 2 year rate of 3.80% which also offers the security of a cap ensuring that even if the base rate rises the tracker rate will not rise higher than 5.30%.
The buy to let sector is currently buoyant with lenders releasing competitive new deals to help investors cash in on lucrative rental income.
If you are looking for a competitive buy to let mortgage offer contact Deal Direct. We are 'whole of market' brokers and will search the entire UK market for a deal well suited to your investment needs.
Contact Deal Direct today for a mortgage market comparison.
