SL revamps buy-to-let range

Standard Life Bank is introducing free legals and no valuation fees to its 'Freestyle' buy-to-let remortgage range as part of wide-ranging buy-to-let mortgage enhancements.

The latest changes, effective immediately, follow a series of product developments, announced in June, including:

Half-price arrangement/booking fees for any landlord purchasing more than one buy-to-let property with a Standard Life Bank mortgage (fees for first mortgage at standard rate, all subsequent mortgages up to a maximum of nine additional properties in a 12-month-period reduced by 50%, up to a total loan value of £1.5 million).

Rental yield requirement reduced from 120% to 110%.

Verification of income not be required for loan-to-value of up to 85% (increased from 75%).

07 August 2007 © Moneyextra.com

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