Buy-to-let rates reduced by GE Money
News Category: Industry News
Published: 11-Apr-2008
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GE Money Home Lending announced yesterday (Thursday, April 10th) that the rates on some of its key buy-to-let mortgage products are to be reduced.
As part of the move, two and three-year fixed-rate products, which are offered through the First National and First National Direct 2U brands, will see rates cut by 0.3 per cent.
In addition, GE Money is reducing the rate on its five-year fixed products to 5.74 per cent, while tracker rates will be brought down to 6.54 per cent.
Gerry Bell, head of mortgage marketing at GE Money Home Lending, commented: "The buy-to-let sector is a significant part of the mortgage market and we are committed to strengthening our presence there.
"At a time when many lenders are increasing their rates, our financial strength enables us to offer improved deals for borrowers and brokers.
"There are currently over a million buy-to-let mortgages outstanding in the UK today, which highlights the importance and opportunities of this market for both us and our partners."
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