Good news for landlords as Co-op extends buy to let mortgage end dates.
If you are looking for a buy to let mortgage, the end dates for the Co-op's 2-year fixed products has been extended to 31 July 2012 by Platform, who only lend through professional mortgage advisers such as Deal Direct so contact us if you are looking for a buy to let deal.
The Co-op has suggested over 20% of its recent buy to let business has come from what are termed accidental landlords. These are home owners that are renting out their homes while waiting for a buyer and looking for property elsewhere in the slow housing market.
According to statistics the average time for a property to sell is now 15 weeks compared to less than 10 weeks last year. Some home owners are renting out their homes to avoid dramatically reducing their selling price. If you find yourself in this position call Deal Direct for advice on your options.
The Co-op offer a 2 year fixed rate buy to let mortgage for mortgages up to 75% loan to value at an interest rate of 4.69%. If you have 35% deposit or equity, Coventry Building Society is offering a two year fixed rate of 3.99% for mortgages of up to 65% loan to value.
If you are looking for a buy to let mortgage call Deal Direct and we can compare these rates with others in the market and provide you with the full range of details for the best products available.
