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Newbury reduces rate on limited company BTL product

Newbury Building Society has cut rates on a limited company buy-to-let mortgage deal.

The 75% loan-to-value three-year variable product has been reduced from 2.99% to 2.75%. 

This offer includes an application fee varying from £950 to £1,500 and is available for both purchase and remortgage.

The product, which is offered to landlords with a buy-to-let portfolio of up to 10 properties, is available at a maximim loan size of £500,000, with early repayment charges set at 2% for the duration of the term. 

Roger Knight, lending manager at Newbury Building Society, commented: “Following various changes to tax regulations, there has been a noticeable shift in professional landlords choosing to set-up limited companies to take advantage of the corporate tax benefits.

“We hope the improved pricing as well as our flexible approach to lending will give brokers the right tools to support clients in achieving their objectives.”

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