New buy to let mortgages hit the market

23 April 2010

Written by David Whittaker

Two new buy to let mortgage ranges have been introduced by lenders Godiva and Northern Rock.

Northern Rock has launched six new products for landlords on its 'everyday' mortgage range. The new deals are available on three and five-year fixed-rate mortgages. The bank also offers a two-year fixed rate mortgage.

On a two-year fixed rate mortgage with a fee calculated at 2.5 per cent of the loan, a rate of 5.49 per cent is available on a 60 per cent loan-to-value (LTV) ratio and 6.09 per cent on a 70 per cent LTV.

The rates for a 60 per cent LTV three-year fixed rate mortgage begin at 5.59 per cent, rising to 5.89 per cent on a five-year term.

Godiva's new product sees a reduction of 0.15 per cent on its usual rate.

The new rate of 4.59 per cent applies to a two-year fixed rate mortgage on a 60 per cent LTV.

Colin Franklin, managing director of Godiva Mortgages, said: "we are certain that our new reduced fixed rate ... will be a welcome addition to our competitively priced range."

Why not take a look at our best Buy to Let mortgages and make an enquiry online now.