West Brom tracker buy to let mortgage holders are to be hit with a rate hike.
Shop around if you have a tracker buy to let mortgage from the West Bromwich, as rates are to increase.
From 01 December the lender has advised that its buy to let tracker mortgage rates will go up by 2%. This will impact 6,700 of its mortgage-holders, are you one of the 6,700?
West Bromwich has said the rate hike is as a result of changing market conditions, adding that its mortgage contract terms and conditions allow for this change.
An increase of 2% is significant and could well lead to a decline in your investment property's profitability.
If your tracker buy to let mortgage deal is with West Bromwich, you are recommended to start a search to find an alternative deal to switch to.
If you are concerned about rising buy to let mortgage rates, you are advised to call Deal Direct on 0800 048 8828. We can make a 'whole of market' search to find you a more competitive deal to switch to.
Contact an adviser today to beat your current offer.
Call 0800 048 8828.
