Mortgage Trust refreshes range for 2016

Mortgage Trust is ringing in the New Year with a refreshed buy-to-let mortgage range offering competitive, 2, 3 and 5 year fixed rate products, at up to 80% Loan to Value (LTV), as well as a selection of tracker products.

The new range includes a 2 year fixed rate at 3.05% available up to 75% LTV and 3.45% at 80% LTV. For those planning their finances over the long term the new range also provides a 5 year fixed rate product at 3.70% - available up to 75% LTV.

Mortgage Trust and Paragon Mortgages are increasing their interest coverage ratio to 5.35%, for single self-contained property applications, building further sustainability into their lending portfolio. HMO and limited company applications for Paragon Mortgages have no change to the ICR calculation.

John Heron, Director of Mortgages, said; “Our refreshed Mortgage Trust product range is designed to give intermediaries as much variety as possible – whilst maintaining our competitive edge and high level of customer satisfaction.

“We already have market leading low levels of arrears on our loan book but, in addition to maintaining the matrix approach to assessing affordability we already have in place, we are also moving to increase our minimum interest coverage ratio - building further sustainability into our loan book.”