Norwich & Peterborough Building Society has returned to the buy-to-let market after a break of two years.
The lender, which is in the throes of being taken over by Yorkshire Building Society, is launching three new products: a two-year fix at 5.20%, a three-year fix at 5.90% and a two-year discount rate at 4.85%.
The deals are available up to 75% LTV, but only 50% LTV for flats outside London and 65% LTV for London flats.
They are available for purchase and remortgaging and have an arrangement fee of 1.5%.
Graham Toy, head of commercial lending at Norwich & Peterborough, said the lender has decided on a ‘measured’ re-entry into the buy-to-let market after closing its books in June 2009, although N&P has continued to lend to limited companies.
He said: “We are excited by this move back into personal buy-to-let mortgages. To ensure a manageable re-entry, we are making these products available to our existing commercial brokers and a small number of residential brokers who have supported the society in the past with buy-to-let applications.”
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