Coventry launches buy to let capped tracker

Coventry Building Society is launching a unique buy to let capped tracker.

With a pay rate of just 3.80 per cent (BBR +3.30 per cent) and capped at 5.30 per cent, both until 31.07.14, 65 per cent LTV, £250 booking fee with £999 arrangement fee, valuation up to £700 included.

Colin Franklin, sales and marketing director, Coventry Building Society, said: “Our latest buy to let mortgage product is another great example of product innovation here at the Coventry, as there are no other capped tracker products on the market for BTL investors – this is simply unique. Tracking the BBR at +3.30 per cent gives a highly competitive rate of 3.80 per cent for two years. And, in addition to this great rate, BTL investors will also have the security of a cap, so if the base rate does increase within the two year period, their rate will not rise above 5.30 per cent. In short – providing BTL investors with the best of both worlds”.