The Cambridge Building Society has refreshed its buy-to-let mortgage range, with the mutual reducing rates by up to 0.25 percentage points.
The two products, which are available direct and via mortgage intermediaries, are:
Two year fixed rate
- 70% LTV – was 5.09% now 4.94%
- 75% LTV – was 5.39% now 5.14%
Both have a maximum loan of £250,000 and revert back to the 4.99% rate after the two years. They come with a £199 application fee and an £1,800 completion fee.
Two year discounted rate
- 75% LTV – was 4.89% now 4.64%
This product has a maximum loan of £750,000 and reverts back to the 4.99% rate after the two years. It comes with a £199 application fee and a 1% completion fee.
Andy Lucas, the Cambridge’s commercial director, said: “We have seen an increase in interest around our buy-to-let products and we wanted to support the market with a more competitive product for those people seeking a two year fixed rate product.”