First National cuts BTL rates

GE Money says the changes will help brokers in a time of uncertainty by offering affordable products that reflect consumer demand. As part of the changes two-year fixed rates have been cut by 0.85%, while three-year deals have seen rates lowered by 0.75%, each with 100% rental cover. Gerry Bell, head of mortgage marketing at GE Money Home Lending, says: “The move to reduce rates across the First National BTL range further demonstrates GE Money Home Lending’s response to the sustained growth in this sector. “Despite concerns surrounding the global credit crunch, consumer demand remain...