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The Mortgage Works launches BTL two-year discounted mortgage

The Mortgage Works is launching a buy to let product exclusively available through Premier Mortgage Service.

With a pay rate of 5.39 per cent, this two-year discounted product is available with immediate effect.

Product details include a 1.31 per cent discount from Bank Base Rate plus 1.95 per cent until January 2007 giving a current pay rate of 5.39 per cent. Followed by Bank Base Rate plus 1.95 per cent for the remaining term of the mortgage. Maximum advance is 80 per cent.

Portman Group intermediary sales Paul Howard says: “The BTL market remained buoyant during 2004 and looks set to maintain its appeal through 2005 as interest rates appear to be easing. For prospective and current landlords, this exclusive deal will be extremely attractive. The competitive interest rate, coupled with our flexible lending criteria, make this an excellent package. “

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