From tomorrow (11th October) Melton Building Society will reduce rates across its buy-to-let (BTL) product range, offering their lowest BTL rates of the year.
With cuts of up to 0.55%, the society has also increased its maximum loan sizes from £500,000 to £1m enabling them to support a more diverse range of Landlords.
In addition, the Society are offering cashback incentives for the first time within their BTL range with the following two products: BTL 2 Year Fixed, 75% LTV 5.15% (previously 5.35%, a reduction of 0.20%), no application fees, £399 completion fee, £250 cashback; Family BTL 2 Year Fixed, 75% LTV 5.40% (previously 5.95%, a reduction of 0.55%), £199 application fee, no completion fee, £500 cashback.
Head of Intermediaries Dan Atkinson said: “We are delighted to be able to offer our lowest BTL rates of the year to the market.
“Our new rates along with the substantial increase to our maximum BTL loan limit reflect our commitment to landlords.
“With rate reductions of up to 0.55%, and the introduction of cashback on selected products we hope to offer both existing and new landlords some attractive solutions to grow their property portfolio.”
