Is Buy to Let the way forward?
PUBLISHED: 14:14 04 September 2013 | UPDATED: 14:38 05 September 2013
Loughborough Building Society, has brought a competitive new buy to let mortgage product to the market for local investors.
Confidence remains the key to the pick up in the property market according to Colin Bradley, Deputy Chief Executive. He says “there is no doubt that homeowners are more confident this year, compared to recent years and with prices remaining stable, and savings rates remaining low, it is an ideal time to buy, sell or invest in the local property market.”
Colin also adds “our new buy to let product is available for loans up to 65% of the purchase price, and has a 1.50% discount off our standard variable rate, for 3 years, giving a competitive pay rate of 3.49% (APR 4.9%), with a completion fee of £899 that can be added to the loan. The Funding for Lending Scheme introduced by the Government last summer has had a positive impact, lowering market pricing levels and increasing the range of products on offer.”
Many investors are taking the view that investing in the buy to let market represents an excellent opportunity to achieve a competitive yield in the current low rate environment. With overall yields from around 4% and above, Colin notes that this is attractive to both new and existing investors and adds "We urge people who are looking for a great mortgage to visit one of our local branches and we’ll give you a personal service that many of our competitors cannot offer."
Combined with a professional and friendly approach from the Society’s mortgage team, the Loughborough is committed to give you outstanding customer service and support you through the mortgage process.
So if you’re looking for an alternative to the larger providers and want a local Society that gives high levels of personal service, then why not visit or call our Derby branch on 01332 290818
It’s the Society where being local means a great deal.