Santander reduces buy to let mortgage rates.
With immediate effect, Santander has announced that its buy to let rates have been cut by 0.3%.
2 year fixed range highlights now include:
- 1.99% for 60% LTV with a £1995 booking fee
- 1.89% for 60% LTV with a 1.5% booking fee
- 2.49% for 75% LTV with a £1995 booking fee
- 2.29% for 75% LTV with a 1.5% booking fee
With changes to the buy to let sector it ‘s now more expensive for landlords to invest in property.
To counter act the effect of the 3% stamp duty increase and to keep investors buying, it’s likely we will see lenders cut their rates.
Santander’s rate cut could be the first of many, and rates may well hit new lows.
If you want to invest in property and would like to find the very best deal for your deposit level call us at Deal Direct.
We are an independent whole-of-market broker, regulated by the FCA to offer mortgage advice. We are not however financial advisers, therefore if you want to discuss the suitability of property as an investment you will need to call an IFA.
Please note:
Buy to let mortgage applications from:
- applicants who intend to benefit from house price growth
- applicants who intend to benefit from rental income
- applicants who are letting to buy
will be treated as normal buy to let and not as consumer buy to let. In addition, their subsequent remortgage applications will also be treated in the same manner.
If you are looking for a buy to let mortgage, or want mortgage advice please call us at Deal Direct.
Deal Direct – 0800 048 8828
