Residential mortgage rates are exceedingly low, with the Bank of England Base Rate (BBR) still just 0.1%. Mortgage Broker, Emma Green, explains why these particular rates are too good to miss!
Mortgage lenders have tweaked interest rates a lot over the last few months, but in the last couple of weeks, some newly released deals have really grabbed our attention - for all the right reasons.
Rates from 0.84%
One lender is offering two-year fixes from 0.84% at 60% loan to value (LTV) and five-year fixes from just 0.99%.
If 60% LTV is a bit too low for you, their 75% LTV is just as impressive: two-year fixes start from 0.99% and five-year fixes from 1.19%.
All are remortgage only with an option for either free legal fees or £300 cashback. If you’re in the market for a purchase rate, their options are pretty impressive, too. Do get in touch if you’d like to know more.
Looking at the 80% LTV space, one lender is a cut above the rest, with two-year fixes starting from 1.49% and five-year fixes from 1.69%. These are available for both purchase and remortgage, with a free valuation and £250 cashback.
Your Remortgage Options
Two main options could be available to you here:
- Save money on monthly repayments or,
- Capital raise for buy to let investment
Even if you’re still within your Early Repayment Charge (ERC) period on your existing home mortgage, you could still save money. Doing the maths to work this out is something we can easily do for you, giving you a clear picture of whether you could save, and if so, exactly how much.
Suppose you’ve got a good amount of equity in your home and would like to boost your income with a buy to let property (or another buy to let property!). In that case, we can help you release that equity for investment and remortgage your home onto one of these competitive rates. Both the above lenders are comfortable doing this, and neither require you to have details of an onward investment purchase to apply, meaning you can release the money and have it ready when the right property comes up.
Why Use a Broker?
Not only can we do all the maths for you, but we’ll handle the whole application process and ensure things progress smoothly. By using our expertise, you’ll know you’re getting the most suitable mortgage finance to fit your financial needs. Want to know more? Here are six reasons to use Mortgages for Business.
We won’t be the only ones to notice these rates, so it’s likely they won’t be around for long! If you’re interested, give me a call on 01732 471670 to find out what your options are, or email me firstname.lastname@example.org.
*Rates as at August 2021.
18th August 2021