New Buy-to-Let Mortgages Launched
The first is a fixed-rate mortgage at 5.95% for three years and the second a three-year tracker at 0.24% above BOE Base (currently 5.99%) to 31 December 2010.
These new products are available through intermediaries, via the company website (www.stroudandswindon.co.uk), or through Stroud & Swindon branches and agencies and have a maximum loan to value of 75%. Those wishing to use these products to remortgage will benefit from a free valuation and free legal fees package.
Paul Chafer, Sales Director at Stroud & Swindon comments: “With more and more buy-to-let investors realising that to make money in the current market, they need to find the best financing possible, we have launched these best-buy deals. Both mortgages would be ideal for someone who is looking to purchase a new property or remortgage an existing investment.
“We believe that these mortgages show our commitment to helping consumers make the most of their money and encourage residential property investors to take advantage of these mortgages while they are still available.”
To locate your closest branch visit www.stroudandswindon.co.uk or call 0800 618161
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For further information please contact:
Paul Chafer
Sales Director
Stroud & Swindon
01453 768407
Lee Blackwell / Suman Katyal / Karen Butcher
The Wriglesworth Consultancy
020 7845 7900
Notes to Editors:
About Stroud & Swindon Building Society:
Stroud & Swindon is the 14th largest building society in the UK with assets in excess of £2.8 billion. The Society operates through a dedicated team of intermediary business development managers, with a branch network of 22 offices and 20 agencies in the South West, complemented by a direct call centre based in Stroud and website www.stroudandswindon.co.uk.
Buy-to-let 3-year fix at 5.95%
- Fixed at 5.95% until 31 December 2010
- Moves to Stroud & Swindon buy-to-let SVR at the end of the fixed rate period
- Maximum Loan To Value of 75% for house purchase and remortgage
- Available through branches, agencies, Stroud & Swindon website (www.stroudandswindon.co.uk) and intermediaries.
- Available on house purchase and remortgage
- Valuation fees paid by applicant on application on house purchase
- Legal fees are payable on house purchase
- Free valuation and legal fees are available on remortgages
- Subject to a product fee (£1050) and a reservation fee (£249)
- Early redemption charge of 5% is applicable for the first year (to 31/12/2008) and 4% (to 31/12/2010)
- Minimum (£30,000) and Maximum (£250,000) loans apply to house purchase and remortgage.
- A maximum loan (£250,000) per property to a maximum of £1,000,000 per portfolio.
- A minimum purchase price of £75,000 per valuation applies
Buy-to-let 3-year tracker at 0.24% above BOE base rate (currently 5.99%)
- Mortgage tracks the BOE base rate (+ 0.24% above) to 31 December 2010
- Moves to 1.99% above the BOE base rate from 1 January 2011
- Maximum Loan To Value of 75% for house purchase and remortgage
- Available through branches, agencies, Stroud & Swindon website (www.stroudandswindon.co.uk) and intermediaries.
- Available on house purchase and remortgage
- Valuation fees paid by applicant on application on house purchase
- Legal fees are payable on house purchase
- Free valuation and legal fees available on remortgages.
- Subject to a product fee (£799)
- No reservation fee
- Early redemption charge of 5% is applicable for three-year term of the mortgage (to 31/12/2010).
- Minimum (£30,000) and Maximum (£250,000) loans apply to house purchase and remortgage.
- A maximum loan (£250,000) per property to a maximum of £1,000,000 per portfolio.
- A minimum purchase price of £75,000 per valuation applies