Inflated fees have been a major problem over the last couple of years with fees of anything up to 3% of advance the norm. in recent week several Buy to Let lenders have all introduced a much improved range with hugely reduced fees.
One lender in particular has introduced an outstanding offering, with a 5 year fixed deal at 4.99% or a tracker deal of base plus 2.99%, current rate of 3.49%. More importantly the only fee is an initial £250 booking fee. No arrangement fee, no valuation fee and free conveyancing on remortgages.
The loan to value is still low for this particular deal 50-65% but an absolutely fantastic offering and ideal for landlords looking to raise finance on existing properties or buy further properties whilst there are so many bargains out there. I suspect there will be such demand for these products, they will be withdrawn in a matter of weeks. I am in the process of contacting clients to ensure products and rates are reserved, if you are interested let me know as soon as possible.
Simon Compton Cert PFS, Certs CII (MP & ER)
Independent Financial Adviser
Think Finance
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