Mortgage trust launches BTL product range

The six new products are exclusively available via intermediaries for purchase and remortgage, and include tracker rates starting from 4.30% and fixed rates starting from 4.89%.

Mortgage Trust is accepting online applications only via the website and all applications are subject to a fast track credit score based underwriting process.

In addition, Mortgage Trust has launched two ‘Rapid Remortgage’ deals, which benefit from a low 1% fee and free legals and valuation. These deals include a 3.99% two-year tracker and a 4.99% two-year fixed, both at 75% LTV. The deals must be completed by 29 July 2011.

The buy-to-let mortgage product range includes:
 
Fixed

- 2 year fixed at 4.89% (65% LTV)

- 2 year fixed at 4.99% (70% LTV)

- 2 year fixed at 5.09% (75% LTV)

Tracker

- 2 year tracker at 4.30% (65% LTV)

- 2 year tracker at 4.40% (70% LTV)

- 2 year tracker at 4.50% (75% LTV)

Rapid remortgage

- 2 year tracker at 3.99% (75% LTV)

- 2 year fixed at 4.99% (75% LTV)

The products are available for single, self-contained properties only. The product fee across the range is 1.75% (1% on the Rapid Remortgage range) and the rental calculation is based on 125% at 5%, or the product rate if greater.
 
Mortgage Trust, which is a sister brand to Paragon Mortgages and part of The Paragon Group of Companies, returned to buy-to-let lending in April.
 
John Heron, Mortgage Trust Managing Director, says:

“These products offer attractive rates and criteria and we are confident they will appeal to intermediaries and landlords from across the spectrum.

"We have been pleased with the strong response to Mortgage Trust’s return to the market in April and believe these products will cement Mortgage Trust’s position as a major brand in the buy-to-let market.”