5 year fix with 3 year tie-ins – is this a new trend?

The flexibility for Buy to Let mortgage borrowers of being able to fix an interest rate for 5 years whilst only having early repayment penalties for 3 years is to be welcomed. But does the fact that 3 lenders now offer such products suggest this may be more than a passing marketing ploy? Precise Mortgages, The Mortgage Lender and Foundation Homeloans all have 5 year fixes with 3 year tie-ins including products for individuals and limited companies, and products for standard, HMO and multi-unit properties. Enquiries welcomed.

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