Tuesday, March 7, 2017
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Specialist buy-to-let lender Precise Mortgages is offering a five-year fixed rate mortgage with 4% cashback.
The cashback is available on its 4.69% five-year fixed rate for mortgages up to £500,000.
At the end of the tracker period, the mortgage reverts to 3.99% - which is 3.61% over the bank's LIBOR. The overall cost for comparison is 4.54% APRC.
Aaron Strutt, product director at Trinity Specialist Finance, says: “This mortgage has been designed to help landlords to cover building work or stamp duty costs when they purchase a property.
“It is very unusual for a lender to offer up to £20,000 cash back with a mortgage. The rate is higher than many of the other fixed rates, so landlords will need the lump sum to opt for this rate.”
The 4.69% rate has a 1.5% arrangement fee and early repayment charges for the first five years. Applicants will need a 25% deposit to qualify.
The actual rate available will depend on your circumstances. Please ask for a personalised mortgage illustration.
To secure a buy-to-let mortgage, call Trinity Specialist Finance on 020 7016 6151.
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