Teachers Building Society has launched a two-year discounted variable rate buy-to-let mortgage at 3.99%, available up to 75% LTV.
The variable rate is discounted by 1.75% for the first two years, before reverting to the lender’s buy-to-let SVR, which is currently 5.74%.
The deal has an arrangement fee of £1,499, while an early repayment charge of 5% is applied during the first two years of the mortgage.
The ERC will be waived if the building society exceeds any base rate increase.
Alan Gravett, head of sales and marketing at Teachers Building Society, said: “We strive to offer the best rates we possibly can to borrowers and savers and this buy-to-let deal offers good value to landlords.
“”We have also improved our affordability calculation for buy-to-Let mortgages to 130% coverage at 6% following feedback from customers and intermediaries.”
