Buy to let investors enjoy lowest ever mortgage rates.
A buy to let mortgage is becoming cheaper than ever to take out. The fixed rate options over a longer term are seeing increasingly low mortgage rates, and would-be landlords are seeking to reap the rewards.
As you may already be aware, the Bank of England Base Rate was cut again in August to 0.25%. The cut is being reflected in the costs of taking out a buy to let mortgage. As these costs are being forced down, and returns on savings are not as great as they used to be, more investors are considering property as a potentially lucrative way of boosting their income.
However, before jumping in with both feet, first-time landlords should bear in mind that there are other costs to factor in apart from their initial outlay. Two of these that could have the biggest impact are:
- The stamp duty surcharge that came into effect last April.
- The changes to tax relief that are being introduced next year.
With our help, searching the market for a buy to let mortgage deal is simple and hassle free. We do all of the work, so that you don’t have to.
Please note, while we are regulated to offer independent mortgage advice we are not regulated to offer general financial advice. To discuss the suitability of a property as an investment, you will need to speak to an independent financial adviser.
Please be aware that:
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 normal buy to let and not as a consumer buy to let. Additionally, their subsequent remortgage applications will also be treated in the same manner.
Call us today on 0800 048 8828 for a buy to let deal.
