Coventry Building Society expects buy to let mortgages to be popular
www.moneynews.co.uk > Mortgages > Coventry Building Society expects buy to let mortgages to be popular
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Coventry Building Society expects buy to let mortgages to be popular
Fri 7th Jan 2011
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It has added two new buy to let mortgages to its portfolio, both of which do not involve arrangement fees.
The first deal, a five-year fixed rate loan to value 50 per cent deal has a rate of 4.99 per cent, with the second offering a rate of 5.39 per cent for a five-year fixed rate deal with loan to value of 65 per cent.
Sales and marketing director at Coventry Building Society Colin Franklin said that landlords looking to buffer themselves against future rises in interest rates are expected to be scooping up the deals.
"However, brokers need to act now to avoid missing out," he urged.
He said the base rate is "expected to rise", but as no one is sure when or by how much, the new options from Coventry Building Society can help buyers keep a step ahead.
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