London, GB 18 °C

Wednesday, September 19, 2018

3_2018-07-06-03-50-49pm.gif
News > Products

Al Rayan reduces rates on BTL product range

Martin Greenland | 13:45 Tuesday 16th January 2018

Al Rayan Bank has reduced rental rates by 1% on its buy-to-let product range.

The sharia-compliant bank has also simplified its buy-to-let range by removing its 65% finance to value (FTV) band and making the new rental rates available to all customers requiring up to 75% FTV (25% deposit) on its rent and acquisition product range.

The product range is available to landlords either directly, through the bank's national branch and office network, its UK-based customer service centre, the bank's website or indirectly via intermediaries.

The rental rates are:

  • discounted variable: 75% FTV, rental rate of 3.14% available until 30th June 2020
  • fixed: 75% FTV, rental rate of 3.24% also available until 30th June 2020.

 

Other product features include:

  • no early settlement penalty for clearing the finance in full early, even during a fixed rental rate period (administration fees apply)
  • a product fee of 1% (a minimum fee of £995 applies)
  • rent-only option available up to 65% FTV.
leave a comment

Your email address will not be published.