Newbury Building Society cuts rate on BTL product

Newbury Building Society has announced a reduction to the rate of its limited company buy-to-let (BTL) mortgage product.

The society indicated it hopes to further support landlords and has also reduced the product’s mortgage application fee from £1500 to £950 for both purchase and remortgage.

The latest price reduction now puts the limited company three-year variable BTL product at the same price that the society charges individuals for BTL mortgages.

Newbury Building Society lending manager, Roger Knight, said: “Following various changes to tax regulations, there has been a noticeable shift in professional landlords choosing to set up limited companies to take advantage of the corporate tax benefits.

“We hope the improved pricing as well as our flexible approach to lending will give brokers the right tools to support clients in achieving their objectives.”

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