National Counties buy to let mortgage range adjusted.
The buy to let mortgage range offered by National Counties has been adjusted in an effort to appear more appealing to investment landlords looking to source a deal.
The lender has advised that four buy to let mortgage deals in its range will be withdrawn and replaced by three new deals which are to be launched 01 June.
The building society has chosen to withdraw its residential investment SVR which it is currently offers at 5.44%, 2 fixed rate deals at 4.79% and 4.89% and its 3 year mortgage discount offered at 1.59% for new business.
Three new buy to let deals have been launched including one for purchase and remortgage up to 70% LTV fixed for 3 years at 4.69%. The loan is offered for a minimum of £45,000 and maximum of £350,000. The lender advises that 135% rental coverage will be required for acceptance rather 130%.
National Counties says that first time property investment buyers will be limited to a loan to value level of 65%. Mortgage applications of between 65% and 70% loan to value will only be considered from existing landlords with at least one other investment property.
Now is a great time for buy to let investment, rental returns are good and lenders buy to let mortgage offers are competitive.
Deal Direct can help investment buyers source a competitive deal.
Contact one of our skilled advisers today.
