Abbey for Intermediaries Buy to Let Remortgage 5 year fixed rate at 4.34% fantastic for landlords looking to fix now.
Avid followers of my blogs will appreciate I don’t tend to comment on lender’s latest mortgage rates as they are constantly changing, and by the time you get the message out – they could be on the move again. That said every now and again such a competitive buy-to-let mortgage rate comes up I cannot resist in sharing the good news, and as a landlord myself; I would certainly hang my hat on this gem. The Buy to Let Remortgage 5 year fixed rate at 4.34% product ticks all the boxes so I thought I would give you a little bit more information around it.
With interest rates likely to rise within a month of the election in May 2015 irrespective of the party that comes to power now is the ideal time to lock in.
This great Buy to Let Remortgage 5 year fixed rate follows on the back of recent news that Abbey for Intermediaries now accepts self-employed borrowers and have expanded their portfolio limits.Although this lender is very good on rates a word of warning they can be quite conservative with lending policy’s so I would caution against using this type of product for anything which is outside of the box which may include non-standard applicant certain stances or property types.
Buy to Let Remortgage 5 year fixed rate
Lender: Abbey for Intermediaries
Rate: 4.34% (APR 4.8%*)
Fixed until 2/7/2019
Completion fee £1,499
£250 cashback towards your legal costs
Minimum equity 25%
Minimum property value £75,000
*Based on an interest only mortgage of £175,000. ( Rate correct on 11/04/2014)
Eligibility / Criteria
- Open to employed or self employed applicants
- Minimum earned income £25,000 (£50,000 if you have 5 or more secured credit commitements)
- Rental coverage must by at least 125% of the mortgage payments
- Maximum of 5 properties with Abbey for Intermediaries (each must have at least 25% equity)
- Maximum of 7 properties in total
- Maximum age 75 at the end of the term
- Student lets on one AST considered
- Raising additional money for home improvements is allowed
- Must have permanent rights to remain in the UK
- Perfect credit record
For more information on Buy to Let Remortgage 5 year fixed rate Mortgages please contact us on 020 7993 2044 or alternatively complete the online enquiry form on the right-hand side of this page
Payam Azadi is a partner at Niche Advice Ltd who are Independent Financial and Mortgage Advisers in London.