A new
buy-to-let mortgage deal from Southern Pacific
Mortgage Limited (SPML) will be available exclusively via the internet.
Buy2Let Online have two
mortgage rate options. Potential
buy-to-let mortgage borrowers could opt for a three-year fixed mortgage rate or a discounted mortgage rate.
Fixed
mortgage rates start from 5.49 per cent for buy-to-let mortgage holders borrowing up to 75 per cent loan-to-value. The mortgage rate is 5.69 per cent if a maximum
loan-to-value of 85 per cent is borrowed.
The discounted mortgage
rates are one per cent when the loan-to-value is 75 per cent and 0.75 per cent for 85 per cent loan-to-value.
Early repayment charges apply to these buy-to-let mortgage offerings, reports Mortgage Introducer.
The buy-to-let mortgage is available through undertaking a decision in principle (DIP) on the mortgage lender's website.
John Prust, the mortgage lender's sales and marketing director, says he DIP facility is "instantaneous", so potential mortgage borrowers will know immediately if they meet the mortgage lender's underwriting requirements.
Mr Prust also told Mortgage Introducer that the demand for buy-to-let
mortgages is "still strong", adding that the
mortgage lender is "confident" that the SPML Buy2Let Online mortgage will be "extremely popular" with those hoping for a quick decision.
