Are buy to let mortgage rates now on the increase?
We could now be seeing a trend of increases in buy to let mortgage rates.
This is likely because of the influence of two factors:
- increases in swap rates
- suggestion of earlier than expected rise in the base rate
Foundation Home Loans are one such lender that has taken the step of raising its rates. However, they have also taken the opportunity to extend its offering. In response to the popularity of HMO’s, the lender had added a 3 year fixed rate mortgage from 3.29%. All buy to let mortgages from this lender are available to small or portfolio landlords as well as limited companies or those operating as individuals.
Our service here at Deal Direct includes searching the whole of the market for suitable mortgage options for you. We will compare them, like for like, so you can immediately see which alternative will yield the best profits for you.
Please be aware that 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.
Also note 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 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.
Enquire about the latest mortgages on 0800 048 8828.
