Mansfield BS launches a 70% LTV 5 year fixed buy to let mortgage.

The Mansfield Building Society has announced the launch a new buy to let mortgage fixed for 5 years at 3.29%

The lender advises this new product has been launched for landlords looking for longer term mortgage security post Brexit.

The deal is for 70% LTV and is available for both remortgaging landlords and those purchasing new property. Fees on this mortgage are set at £199 for the initial application and £1,800 upon completion, a free valuation is on offer.

The rental calculation is 130% of the monthly mortgage interest - which is calculated at 5%. In addition, an early payment charge applies which is set at 3% for the 5 year fixed term.

A lot has happened in the buy to let sector this year, and lenders are doing what they can to keep deals as affordable as possible.

If you’re looking for a mortgage to invest in property, then call us at Deal Direct. We specialise in buy to let products and are regulated by the FCA to offer no-obligation, impartial and independent mortgage advice.

If you are looking for advice as to the suitability of property as an investment, then you will need to call an independent financial adviser, as we are not regulated by the FCA to offer general financial advice.

Please note: 

• Buy to let mortgage applications from:
• applicants whose intention is to benefit from house price growth
• applicants whose intention is to benefit from rental income
• applicants who are letting to buy

will be treated as normal buy to let and not as a consumer buy to let. In addition, their subsequent remortgage applications will also be treated in the same manner.

Call today on 0800 048 8828 for a buy to let quote.