Nationwide cuts buy to let mortgage rates.
Nationwide’s mortgage arm, The Mortgage Works, has announced that it has reduced its buy to let rates by almost 1%.
The lender advises that buy to let rates have been cut by 0.95% for a 2 year fix for 75% LTV, the rate will now be 2.49%. 2 year trackers have also been reduced in cost, and a 25% deposit mortgage is available at 2.24%. Both deals come with a 2.5% fee.
For investors looking for a fee free deal, rates have been cut by 0.85%, a 2 year fix is on offer at 3.69%.
The lender advises that rates have been cut to help smaller deposit buyers gain access to more competitive products.
If you are looking to invest in property you are advised to act soon, as from April next year 3% stamp duty will be charged on buy to let purchases. The market will also be subject to greater regulation, which is liable to lead to tighter criteria making it tougher to get a deal.
If you would like a mortgage to invest in property call us at Deal Direct for advice and a low rate quote.
Note:
- Deal Direct is regulated by the FCA to offer mortgage advice alone, we cannot advise you as to the suitability of property as an investment.
- Not all mortgages are regulated by the FCA.Call one of our advisers today on 0800 048 8828.
Call one of our advisers today on 0800 048 8828.
