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Cambridge BS cuts rates and fees with revamped BTL range

  • 01/10/2012
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Cambridge BS cuts rates and fees with revamped BTL range
The Cambridge Building Society has undertaken a relaunch of its buy-to-let offering, with rates reduced by up to 0.75% and fees cut by up to £500.

Cambridge has added a five-year fixed rate deal to its range, available at 4.89% for loans up to 65% LTV and 5.49% up to 75%. Fees of 1% plus a £199 booking charge apply to both mortgages.

A variable rate deal has also launched for loans up to £300,000. The product is available at 5.39% up to 75% LTV and has a £1,299 fee.

The mutual’s two-year fixed rate product for loans up to 75% LTV has been reduced from 5.14% to 4.49%, with a 65% option also available at 4.19%. Fees of £1,499 apply.

Elsewhere, a two-year fee-free option is on offer at 6.09% up to 75% and a two-year discount mortgage is available at 4.39% at the same LTV, with fees of 1% plus a £199.

All products will be available direct and to mortgage intermediaries in the wider East Anglia area.

Andy Lucas, Cambridge’s commercial director, commented: “We have revamped the existing range and added products to meet the needs of a broader range of customers.

“We are continuously looking at adapting and improving our products to ensure that we are able to offer mortgage intermediaries and direct customers a choice that will appeal to them.”

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