New mortgages aimed at small portfolio buy to let investors!

The buy to let mortgage market has suffered something of a battering in recent months but now Post Office Money is launching a new range of products on Friday, aimed at first-time landlords or those with small portfolios.

The lender says its latest products are designed for those buying their first rental property, or for someone who wants to own one or two such properties.

The new rates start from 1.93 per cent for a two-year fixed loan at 70 per cent Loan To Value with a £995 fee.

The lender will also launch a two-year fix at 1.98 per cent at 75 per cent LTV with a £995 fee.

Post Office Money is also launching a three-year fixed rate loan at 2.28 per cent at 60 per cent LTV, with a £995 fee and a five-year fix at 2.78 per cent at 70 per cent with the same fee amount.

“Property is still an attractive investment for many; however factors such as the increased stamp duty tax on additional properties mean people are shopping around for the best deal to keep costs down. We are continuing to improve our mortgage offering across the board to help customers make their buy to let aspirations a reality” says Post Office Money managing director Owen Woodley.

Excerpt from Letting Agent Today.