Are 5 year fixed buy to let mortgage rates still falling?

Some 5 year fixed rates for buy to let mortgages are becoming cheaper.

Even though there was a rise in the base rate last November, not all mortgage rates have risen as a result. In fact, the opposite is true and this is particularly evident with buy to let mortgages.

2 year fixes have traditionally been the most popular because the rates are normally the lowest. They also offer flexibility, allowing the borrower to switch to another product after the fixed term has ended.

However, 5 year fixes are now coming to the fore. Not only are rates continuing to fall, making them very affordable and helping to maximize profits, many landlords are anticipating the term will cover any rise in rates in the interim.

Fees are also quite low and many products offer cashback incentives, increasing value and affordability.

As lenders are absorbing more of the costs themselves, competition between them is very high. This is good news for you, the landlord, but to make certain you can capitalize on the best deal possible, be sure to consult with our experts here at Deal Direct.

Please note We are regulated to offer independent mortgage advice; however, we are not regulated to offer general financial advice. If you want to discuss the suitability of a property as an investment, you will need to contact an independent financial adviser.

Buy to let mortgage applications from:

• applicants whose intention is to benefit from house price growth
• applicants whose intention is to benefit from rental income
• applicants who are letting to buy

will be treated as a normal buy to let and not as a consumer buy to let. In addition, their subsequent remortgage applications will also be treated in the same manner.

Call us today on 0800 048 8828 or chat with us online now.