New buy to let mortgage deals launched by Kent Reliance.
The buy to let mortgage sector is gathering strength. Recently residential mortgage rates have been confusing with some lenders reducing their rates offered with others increasing theirs.
Residential property sales are slow and mortgages difficult to achieve, however the story for the buy to let sector is somewhat different.
Lenders are keen to attract buy to let landlords to capitalise on this growth sector.
In response to increased demand the Kent Reliance has announced the launch of two new buy to let mortgage deals.
A 2 year discounted variable rate deal is on offer for 85% loan to value at a rate of 5.49% and a 3 year discount deal for the same loan to value is on offer at 5.69%.
The lender advises that after the initial discounted period both mortgage deals will revert to its standard variable rate, which is at present 6.58%. A mortgage product fee of 2.5% of the total mortgage amount and an application fee of £130 will be charged.
To be approved for one of the lender's buy to let mortgage deals, monthly rental income must equal a minimum of 125% of the interest only mortgage payment and applicants are required to have a minimum income of £25,001.
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Contact Deal Direct for a highly competitive quote.
