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Mortgage Trust unveils new discount and tracker mortgage rates

06 June 2005
Mortgage Trust, the specialist buy-to-let mortgage provider, has reduced its discount and tracker product rates across both its Mass Market, and MT Select range following a reduction in inter-bank rates. The move sees all discount and tracker rates drop by 0.11 per cent.

The company's Mass Market range includes a new two-year discount rate of 5.52 per cent, a Lifetime tracker rate of 6.02 per cent, a new Lifetime tracker rate of 6.37 per cent (no ERCs), a new Fee Saver two-year discount rate of 6.12 per cent and a Cash-Back two-year discount rate of 6.12 per cent.

Mortgage Trust's mass market products offer full flexibility, giving investors the opportunity to save for further property purchases or budget for rental voids and maintenance costs. The group also announced that its Loans to Ltd Companies & Expatriates arm will calculate rental income at 130 per cent of product rate.

The Mortgage Trust MT Select range includes a new MT Select three-year discount rate of 5.46 per cent and a Lifetime tracker rate of 5.60 per cent. Rental income is calculated at 125 per cent of product rate.

The MT Select range has differing criteria requirements and product features from the core range and encompasses outstanding rates, low arrangement fees and simplified criteria and process.

Austin Jelfs, head of sales at Mortgage Trust, said: "Our rate offerings just keep on getting better. In the last month or so we have been able to offer some extremely competitive fixed rates, and falling swap rates have now also allowed us to significantly reduce our discount and tracker rates.

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