Are buy to let mortgage rates on the up?

A lot has been written of late on the subject of rising residential mortgage rates, but so far little has been said about buy to let rates. 

Buy to let is a booming sector within the mortgage market. Many individuals are taking the plunge to become a first time landlord, and others are taking advantage of low rates to increase their property portfolio.

With news of an interest rate rise not so far off, lenders have already started to increase their residential rates. Buy to let rates have so far escaped increases - that is until now.

Lenders have been keen to support the investment sector with significant rate cuts over the last few months. However the tide may be turning as we are now seeing a few lenders introduce increases on certain products.

One lender is the Cumberland BS which has increased its 3 year fixed BTL deal for 60% LTV to 2.95%. This is still a competitive rate, however this increase could be a sign that rates market-wide may start to go up.

If you want to invest in property then it makes sense to get the cheapest deal you can. The advice therefore is not to wait as you could miss out on a competitive mortgage as rates rise.

To discuss your mortgage options call us at Deal Direct on 0800 048 8828.

• Please note that while Deal Direct is an independent ‘whole of market’ broker regulated by the FCA to give mortgage advice, we are not financial advisers. We are not regulated to give you advice as to the suitability of property as an investment, for that you will need to contact an IFA.
• Also note that not all BLT mortgages are regulated by the FCA.

For independent advice and a low rate quote call today.

0800 048 8828