Hinckley & Rugby Building Society has launched a new Buy To Let mortgage at an initial interest rate of 4.19 per cent.
The mortgage, available at up to 75 per cent Loan to Value (LTV), is a two-year discount of 1.45 per cent off the Society’s Basic Variable Rate for BTL mortgages of 5.64 per cent. The overall cost for comparison is 5.5 per cent APR.
The mortgage has an application fee of £250 and a completion fee of £1,250. The completion fee can be added to the loan, as long as the LTV does not exceed 75 per cent.
As with all Hinckley & Rugby mortgages, there are no Early Repayment Charges (ERCs).
Hinckley & Rugby business development manager Carolyn Thornley-Yates said: “This is a very attractive mortgage for investors in Buy To Let. It is backed by our outstanding levels of customer service and individual approach to underwriting.”