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
