The buy to let mortgage race - find a deal before they disappear.

Paragon who specialise in buy to let mortgages, has announced that it will now only offer tracker mortgage deals to property investors.

Yesterday there was the news that rising swap rates were likely to negatively impact fixed rate mortgage costs, https://www.dealdirectfinancial.co.uk/blog-the-end-of-low-mortgage-rates, and today the news is a buy to let mortgage lender is withdrawing fixed rate products.

Paragon has announced that with immediate effect all fixed rate buy to let products have been withdrawn from its range.

The buy to let mortgage lender says it has no plans at this stage to re-launch any new fixed rate products, instead it is concentrating on trackers.

The reason for this decision is due to rising swap rates which are used to set fixed rate mortgage costs.

If you are looking to invest in property, source a mortgage before other lenders follow suit. Usually where one lender leads others quickly follow. 

The fear for many investment landlords is that other lenders could now withdraw their products or significantly hike rates. For the past several months rates have consistently fallen and mortgages for buy to let have become as cheap as they have ever been, this could be set to change.

If rates increase then investors, and in particular first time investment landlords, may be impacted and this growing sector of the market may once again slow down.

To invest in a buy to let property you are advised to call Deal Direct. The recommendation is that you act now before more lenders increase rates or withdraw products.

Act now while mortgage rates are still low.

 Call an advisor for a cheap buy to let fixed rate mortgage.

0800 048 8828.