What's New

New buy-to-let range (Cambridge Building Society)

23 July 2012

The Cambridge Building Society has updated its buy-to-let mortgage range, with the mutual lowering rates by up to 0.25 percentage points.

The 2 products, which are obtainable direct as well as thru mortgage intermediaries, are:

Two year fixed rate

70% LTV - was 5.09% now 4.94%

75% LTV - was 5.39% now 5.14%

Both have a maximum loan of £250,000 and revert to the 4.99% rate after the two years. There is a £199 application fee and a completion fee of £1,800.

Two year discounted rate:

75% LTV - was 4.89% now 4.64%

This product has a maximum loan of £750,000 and reverts to the 4.99% rate after the two years. There is a £199 application fee along with a  1% completion fee.

Andy Lucas, the Cambridge’s commercial director, mentioned: “We have seen an increase in interest around our buy-to-let products and we wanted to support the market with a more competitive product for those people seeking a two year fixed rate product.”