Principality Building Society reduces buy-to-let rates
Principality Building Society has unveiled a number of rate reductions to mortgage products within its buy-to-let range.
Buy-to-let rates have been trimmed by as much as 0.15% in a bid to entice more BTL landlords.
The lender has cut rates on the 70% loan-to-value (LTV) five-year fix from 2.49% to 2.37%, while the 75% LTV five-year fix rates have been dropped to 2.42%, from 2.55%.
Both products are offered with no fees, while legal costs are fee-free for remortgages.
The lender accepts up to three buy-to-let applications per customer and it will also accept first-time landlords and mortgage applications for new build homes.
Naveed Mohamed, head of products at Principality Building Society, commented: “We have improved the pricing on our buy to let range to ensure that our products meet the needs of our clients.
“Our flexible approach will also consider BTL applications for new build properties, which is a growing market.”