Mortgage Trust launches eighteen buy-to-let products

Mortgage Trust has significantly expanded its buy-to-let product range with the launch of eighteen competitive new deals. The range includes nine fixed rate and nine tracker rate products, and offers a combination of attractive rates and criteria.

The new products are exclusively available via intermediaries for purchase and remortgage, and include some of the lowest rates in the buy-to-let market, with tracker rates starting from 3.69% and fixed rates starting from 4.29%. The products include a range of LTVs (75%, 70% and 65%) and fees (2.5%, 1.0% and a flat fee of £1,495) to ensure that intermediaries can find the best product combination for their landlord clients.

Mortgage Trust is accepting online applications only via the MTon-line.co.uk website, which gives an initial lending decision within minutes, and all applications are subject to a fast track credit score-based underwriting process.

John Heron, Mortgage Trust Managing Director, says: "Mortgage Trust returned to lending in April and we have secured a strong position back in the buy-to-let market in this short space of time. The launch of eighteen new products will appeal to an even broader spectrum of landlords and intermediaries, providing support to the growing needs of the private rented sector.

"We are offering intermediaries a range of product choices, LTVs and fees so that they can find the most suitable combination for their landlord client. Intermediaries should consider the overall package of the product when searching via sourcing systems, rather than just the headline interest rate. Often, a product with a low or flat fee and a slightly higher initial rate can work out cheaper over a two-year period than products that head the best buy tables."

The products are available for single, self-contained properties only and intermediaries can access them directly via the MTon-line.co.uk website or the Mortgage Brain and Trigold sourcing systems. The rental calculation across the range is based on 125% at 5%, or the product rate if greater. Mortgage Trust is a sister brand to Paragon Mortgages and part of The Paragon Group of Companies.

Paragon Mortgages continues to focus on professional landlords, catering for complex buy-to-let requirements, such as Houses in Multiple Occupation, limited companies and multi-unit blocks. Paragon's product range can be found at paragon-mortgages.co.uk.