Paul Martins, Head of Buy to Let hand-picks his top 6 buy to let mortgage rates for individuals and limited companies.
1. 3.29% 5 Year Fixed*
Key features
- 65% LTV up to £1,000,000
- ERCs apply
- No minimum income requirement
- 2% arrangement fee
- RTI 145% @ 3.29%
- Purchase and remortgage applications
Borrower types accepted
- Individuals
- Ex-pats
- Gifted deposits accepted
- Tenants accepted
- Standard ASTs
- Students
Tenants accepted
- Standard ASTs
- Students
Property types accepted
- Ex-council houses
- New builds
- Vanilla buy to let property
2. 1.90% Discounted Tracker**
Key features
- 60% LTV up to £500,000
- No ERCs
- No minimum income requirement
- £1,999 arrangement fee
- RTI 140% @ 5.50%
- Purchase and remortgage applications
Borrower types accepted
- Individuals
- First-time landlords
- Portfolio landlords
- Gifted deposits accepted
Tenants accepted
- Standard ASTs
- Students
Property types accepted
- Ex-council flats
- HMO's
- Vanilla buy to let property
3. 1.99% 2 Year Fixed***
Key features
- 75% LTV up to £500,000
- 70% LTV up to £750,000
- 65% LTV up to £1,000,000
- ERCs apply
- No minimum income requirement
- £1,995 arrangement fee
- RTI 145% @ 5.50%
- Purchases, remortgages or further advances
Borrower types accepted
- Individuals
- First-time landlords
- Portfolio landlords
Tenants accepted
- Standard ASTs
- Students
- Housing association
- Company lets
Property types accepted
- Ex-council houses
- Studio flats
- New builds
- Vanilla buy to let property
4. 3.68% 5 Year Fixed****
Key features
- 75% LTV up to £500,000
- 65% LTV up to £1,000,000
- ERCs apply
- No minimum income requirement
- 1.5% arrangement fee
- RTI 125% @ 3.68%
- Purchases and remortgages
Borrower types accepted
- SPV Ltd Co's
- LLP's
- Portfolio landlords
- Related transactions
Tenants accepted
- Standard ASTs
- Students
- Housing association
- Holiday lets
Property types accepted
- Ex-council houses & flats
- Studio flats & Highrise flats
- Flats over commercial property
- New builds
- Vanilla buy to let property
5. 3.49% 2 Year Fixed*****
Key features
- 75% LTV up to £750,000
- ERCs apply
- £25k pa minimum income required
- 1.5% arrangement fee
- RTI 125% @ 5.78%
- Purchases and remortgages
Borrower types accepted
- Individuals
- SPV Ltd Co's
- First-time landlords
- Portfolio landlords
- Gifted deposits
- Related transactions
Tenants accepted
- Standard ASTs
- Students
- Housing association
Property types accepted
- Ex-council houses & flats
- Highrise flats
- HMOs & Multi-units
- Flats over commercial property
- Vanilla buy to let property
6. 2.99% 2 Year Fixed******
Key features
- 75% LTV up to £500,000
- 70% LTV up to £1,000,000
- 65% LTV up to £2,000,000
- ERCs apply
- £25k pa minimum income required
- 1% arrangement fee
- RTI 125% @ 5.50%
- Purchases and remortgages
Borrower types accepted
- SPV Ltd Co's
- LLP's
- First-time landlords
- Portfolio landlords
- Related transactions
Tenants accepted
- Standard ASTs
- Students
- Housing association
- Company lets
Property types accepted
- Vanilla buy to let property
3.29% fixed for 5 years
*Fixed at 3.29% for 5 years (to 30/04/2023) reverting to 5.03% (Lender’s LIBOR + 4.50%). For purchases and remortgages. Early Repayment Charges: 5% of the amount being repaid for the first year, then 4% until the end of year 2, then 3% until the end of year 3, then 2% until the end of year 4, then 1% until the end of year 5. No overpayments available. Overall Cost for Comparison: 4.8% APR. Loan to Value: 65% loan to value up to £1,000,000 loan amount. (Maximum of £3,000,000 per client. No limitation to the number of properties an applicant can hold with other lenders.) Lender Arrangement Fee: 2% of the loan amount is added to the loan. Broker Fee: : Our standard broker fee is due on receipt of an Agreement in Principle from the lender, charged at £497 for personal applications and £597 for applications made by limited companies. We will keep any commission payments made by the lender. Alternatively, we will rebate to you any commission paid by the lender to us and charge you a broker fee of typically 1% of the total loan amount (exact percentage will depend upon the size and complexity of the mortgage application). Repayment Options: Interest only or repayment. Rent to Interest Cover: 145% at 3.29%. Minimum Income Requirement: No requirement.
1.90% discounted tracker
**Discounted at 1.90% = Bank Rate + 1.40% for 5 years (to 31/03/2023) reverting to lender’s Standard Variable Rate (currently 5.69%, variable). Available for purchase and remortgage applications. No Early Repayment Charges. Overall Cost for Comparison: 4.7% APR. Loan to Value: 60% loan to value up to £500,000 loan amount. Lender Arrangement Fee: £1,999 is added to loan. Broker Fee: Our standard broker fee is due on receipt of an Agreement in Principle from the lender, charged at £497 for personal applications and £597 for applications made by limited companies. We will keep any commission payments made by the lender. Alternatively, we will rebate to you any commission paid by the lender to us and charge you a broker fee of typically 1% of the total loan amount (exact percentage will depend upon the size and complexity of the mortgage application). Repayment Options: Interest only or repayment. Rent to Interest Cover: 140% at 5.50%. Minimum Income Requirement: No requirement.
1.99% fixed for 2 years
***Fixed at 1.99% for 2 years (to 31/03/2020) reverting to 4.99%, variable (Lender’s Standard Variable Rate + 0.50%). For purchase, remortgage & further advance applications. Early Repayment Charges: 3% of the amount being repaid until 31/03/2019, then 2% until 31/03/2020. Overall Cost for Comparison: 4.8% APR. Loan to Value: 75% loan to value up to £500,000 loan amount. 70% loan to value up to £750,000 loan amount. 65% loan to value up to £1,000,000 loan amount. Lender Arrangement Fee: £1,995 is added to the loan. Broker Fee: : Our standard broker fee is due on receipt of an Agreement in Principle from the lender, charged at £497 for personal applications and £597 for applications made by limited companies. We will keep any commission payments made by the lender. Alternatively, we will rebate to you any commission paid by the lender to us and charge you a broker fee of typically 1% of the total loan amount (exact percentage will depend upon the size and complexity of the mortgage application). Repayment Options: Interest only or repayment. Rent to Interest Cover: 145% at 5.50%. Minimum Income Requirement: No requirement.
3.68% 5 year fixed
****Fixed at 3.68% for 5 years reverting to 5.02%, variable (lender’s LIBOR + 4.50%). Available for purchase and remortgage applications. Early Repayment Charges: 5% of the amount being repaid for the first year, then 4% until the end of year 2, then 3% until the end of year 3 from drawdown. Overall Cost for Comparison: 4.8% APR. Loan to Value: 75% loan to value up to £500,000 loan amount. 65% loan to value up to £1,000,000 loan amount. Lender Arrangement Fee: 1.5% of the loan amount is added to the loan. Broker Fee: : Our standard broker fee is due on receipt of an Agreement in Principle from the lender, charged at £497 for personal applications and £597 for applications made by limited companies. We will keep any commission payments made by the lender. Alternatively, we will rebate to you any commission paid by the lender to us and charge you a broker fee of typically 1% of the total loan amount (exact percentage will depend upon the size and complexity of the mortgage application). Repayment Options: Interest only or repayment. Rent to Interest Cover: 125% at 3.68%. Minimum Income Requirement: No requirement.
3.49% 2 year fixed
*****Fixed at 3.49% for 2 years (to 31/03/2020) reverting to 5.78%, variable (lender’s LIBOR + 5.25%). Available for purchases and remortgages. Early Repayment Charges: 5% of the amount being repaid until 31/03/2020. No overpayments within ERC period. Overall Cost for Comparison: 5.8% APR. Loan to Value: 75% loan to value up to £750,000 loan amount. Lender Arrangement Fee: 1.5% of the loan amount is added to the loan. Broker Fee: : Our standard broker fee is due on receipt of an Agreement in Principle from the lender, charged at £497 for personal applications and £597 for applications made by limited companies. We will keep any commission payments made by the lender. Alternatively, we will rebate to you any commission paid by the lender to us and charge you a broker fee of typically 1% of the total loan amount (exact percentage will depend upon the size and complexity of the mortgage application). Repayment Options: Interest only or repayment. Rent to Interest Cover: 125% at 5.78%. Minimum Income Requirement: £25,000 per annum.
2.99% 2 year fixed
******Fixed at 2.99% for 2 years reverting to lender’s Standard Variable Rate (currently 5.35%, variable). Available for purchases and remortgages. Early Repayment Charges: 3% of the amount being repaid for the first 2 years from drawdown. Overall Cost for Comparison: 5.3% APR. Loan to Value: 75% loan to value up to £500,000 loan amount. 70% loan to value up to £1,000,000 loan amount. 65% loan to value up to £2,000,000 loan amount. Lender Arrangement Fee: 1% of the loan amount is added to the loan. Broker Fee: : Our standard broker fee is due on receipt of an Agreement in Principle from the lender, charged at £497 for personal applications and £597 for applications made by limited companies. We will keep any commission payments made by the lender. Alternatively, we will rebate to you any commission paid by the lender to us and charge you a broker fee of typically 1% of the total loan amount (exact percentage will depend upon the size and complexity of the mortgage application). Repayment Options: Interest only or repayment. Rent to Interest Cover: 125% at 5.50%. Minimum Income Requirement: £25,000 per annum.
