John Charcol, an independent
mortgage broker, has collaborated with leading UK
building societies to launch two new
buy to let mortgage deals.
These deals are not only for
property purchases but also for
remortgaging existing property. The
currency used will be pounds sterling to prevent
homeowners suffering any risk from currency
exchange rates for purchases or
remortgages on properties abroad.
The building societies involved are Scarborough Building Society and West Bromwich Building Society. Scarborough Building Society offers an initial
low rate of 3.49 per cent. They offer a refund on valuation fees or £350 cash back on a
remortgage with no arrangement fee. However, this will be a limited offer.
The West Bromwich Building Society deal allows customers to overpay up to ten per cent annually and has no early settlement charges.
Ray Boulger, senior technical manager at John Charcol, commented: "Buy to let now represents a significant part of the overall market, and we are pleased to have developed some highly sophisticated deals with these
lenders that, just five years ago, would have been unheard of for your average
buy to let investor."
