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Buy to Let

Mortgage Trust launches buy-to-let in Scotland

Adam Williams
Written By:
Adam Williams
Posted:
Updated:
02/03/2015

Buy-to-let lender Mortgage Trust has started to offer loans on properties in Scotland for the first time since the financial crisis.

The lender, which is owned by fellow buy-to-let brand Paragon, has made a number of products available to investors in Scotland.

Its product range includes a two-year fix at 2.99% available up to 65% loan-to-value, with a £495 product fee. For those with a 25% deposit a three-year fix at 3.85% with no product fee is also on offer.

Other products include a two-year fix up to 80% loan-to-value at 4.45%, with no product fee, and a five-year fix at an initial rate of 3.95%, with a £1,995 product fee and available up to 75% loan-to-value.

The products are exclusively available through mortgage brokers and a £150 application fee applies.

John Heron, managing director of mortgages, said: “This new competitive product range has been tailored specifically for landlords with properties in Scotland.

“This is our initial product range for Scotland, and we will be looking to further expand the range in the coming months. The number of households in Scotland’s private rental sector has more than doubled since 2001, and as demand increases we will be looking to continue to create buy-to-let products that help landlords deliver quality homes for tenants.”


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