The Hinckley & Rugby Building Society three new limited company buy-to-let mortgages.
The three mortgages are a two-year discount, a two-year fix and a five-year fix. All are available at up to 70% LTV and are designed for properties held within special purpose vehicle (SPV) limited companies with up to four shareholders.
The two-year discount charges 2.99%, the two-year fix is at 3.10% and the five-year fix charges 3.55% interest. Each mortgage has an application fee of £250. The completion fees are £1,250 for the two-year mortgages and £999 for the five-year fix. Each has a scale valuation fee.
The discount has no ERCs. The two-year fix has ERCs of 2% during the fixed period. The five-year fix ERCs step down from 5% in year one to 1% in year five.
Carolyn Thornley-Yates, the Hinckley & Rugby head of sales and marketing, said: “We invite all advisers to explore our range of buy-to-let products for limited companies.
“It’s an option for intermediaries and their clients to consider, given the appetite for buy-to-let investment and the tax regime faced by investors. By talking to us about their ambitions we can bring our manual underwriting into play for their clients.”