3 and 5 year fixed buy to let mortgage rates are on the rise.
For the past 6 months both 3 and 5 year fixed buy to let mortgage rates have risen by a quarter of a per cent.
Despite the buoyancy of the buy to let mortgage market, rates have steadily increased because swap rate have increased. The prediction is that this trend for rising rates is set to continue.
The BOE has now indicated that since unemployment figures are falling at a far faster pace than previously predicted, interest rates are likely to rise sooner. An increase is likely to happen in 2015 which could push mortgage rates up as early as the new year.
The prediction for 2014 is for mortgage pricing to rise from its current rock bottom level, rates are expected to steadily increase.
While rates are rising, it is predicted that property values will too. For first time buyers this position will present a problem, however for those already on the property ladder the situation is far more positive.
There is a growing trend for home-owners wanting to invest in further property, to remortgage to come up with a deposit for a buy to let mortgage.
Rental yields remain high for landlords, and those looking for a deal might want to consider acting now to secure the purchase of rental property before both prices and rates rise.
If you would like to invest in property call 0800 048 8828 for independent buy to let mortgage advice.
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speak to a Deal Direct adviser today.
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