Darlington launch new buy to let mortgage deal.
The Darlington Building Society has launched a new buy to let mortgage deal. The product is a 2 year discount mortgage offered for 70 per cent loan to value at a rate of 3.74 per cent and comes with an £899 mortgage arrangement fee.
David Copland who is the marketing and sales controller for the Darlington Building Society, commented on the deal saying that the buy to let mortgage sector continues to show signs of market growth. He added that Darlington plan to increase its buy to let lending levels in 2012.
The lender believes that the new product is highly competitive within the 70 per cent mortgage loan to value bracket as it offers one of the lowest initial rates at 3.74 per cent.
Generally products have either an initial low rate with a higher fee or they have a higher initial rate with a low fee. The Darlington advise that their latest buy to let mortgage deal offers both an initial low rate and a low fee of £899.
The lender adds that theirs is a great product for amateur landlords. They are expecting their new buy to let mortgage to be popular with both their intermediaries and landlord clients.
However as there is a limited tranche of funding available act now and contact Deal Direct for a buy to let deal.
