New buy-to-let mortgage range from Godiva Mortgages

Date:Friday 15th January 2010
Author: Susanna Kavka

Godiva Mortgages has unveiled a new range of buy-to-let deals that its managing director claims are "incredibly competitive".

Colin Franklin said that some buy-to-let products have arrangement fees of up to 3.5 per cent, which works out at £5,250 for an average loan of £150,000.

However, he claimed overall fees on Godiva's latest deals total £1,050 - more than £4,000 less.

"This is a very competitive range of buy-to-let mortgages which offer real value for money," Mr Franklin remarked, noting that they also have "excellent rates and service".

Included in the range is a 4.49 per cent Flexx for Term deal, with a 60 per cent loan-to-value (LTV) ratio and no early repayment charges.

A similar product with 70 per cent LTV is available at a rate of 4.75 per cent.

Godiva, a subsidiary of Coventry Building Society that specialises in lending, launched two other buy-to-let products at the same time last year.