New BTLs from the Manchester

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Manchester Building Society (MBS) has launch two buy-to-let products.

They are both three-year fixed rate deals for both purchase and remortgage.

The rates are 5.74% (65% LTV) and 5.99% (70% LTV) and have a flat arrangement fee of £999 that can be added to the mortgage. Based on the fixed rate, rental cover of 120% or 115% is required.

An Early Repayment Charge of 3% applies during the fixed rate period. The maximum mortgage per property is £250,000 and each borrower is limited to owning four rental properties across all lenders.

Graham Alexander, MBS’s business relationship manager, said: “These competitively priced products are specifically aimed at customers with a strong personal financial position

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