New deals launched - buy to let mortgages

07 January 2009

A series of offers on buy to let mortgages have been launched by The Mortgage Works, the lending subsidiary of Nationwide Building Society.

The company has unveiled two new products aimed at buy to let investors.

They include a variable-rate tracker offer set at 1.99 per cent above the Bank of England's base rate for the first year, reverting to 2.99 per cent thereafter.

A one-year fix at a rate of 3.49 per cent has also been introduced, which also reverts to 2.99 per cent above the base rate following the initial twelve-month period.

The firm claimed that the deals will offer borrowers a degree of certainty, something that may be welcomed amid the current economic climate.

Andy McQueen, the managing director of The Mortgage Works, commented that the offers will enable clients to "benefit from competitive interest rates for a year and then reassess their mortgage needs".

Meanwhile, the National Landlords Association has advised buy to let investors to assess the energy efficiency of their properties.