Buy to Let Fixed Rate Mortgages – Act Now! 30.03.2009

Author: Steve Olejnik Posted on: 30 March 2009

Next week sees another BBR decision and with the Bank of England’s ammunition more or less spent, there is probably little point in reducing rates further. We will hopefully see the Quantative Easing programme having the desired effect of slowly easing the credit markets over the coming months but for those borrowers waiting for rates to bottom out – now is the time to act!

SWAP rates seem to have settled and we are now seeing a number of landlords take advantage of the fixed rate Buy to Let mortgages currently available for Buy to Let remortgage and purchases. Our most popular products appear to be a 1 year fixed at 3.99% (70% LTV) and a 3 year tracker currently 3.99% (and capped at 5.49%!). We are also seeing an increase in enquiries about our 5 year products - 5.4% at 60% LTV; 5.49% (Purchases) and 5.69% (Re-Mortgages), both at 75% LTV.

Property investors looking to buy and refinance more niche properties such as HMO’s and Multi-Unit properties should talk to a specialist broker about the options available. Commercial mortgage terms are available at around 65% LTV and below and there are actually some pretty good terms available for the right deal.

In summary, if you are looking at your mortgage options now then please move quickly to access the current deals available. Keep up to date with movements in the Buy to Let mortgage and money markets in our Landlord Information Zone.

Author: Steve Olejnik