Good news for landlords as buy to let lending gets competitive
Landlords are enjoying a large choice of mortgage rates with some deals coming from unexpected sources, a recent review of the market suggests.
Despite much focus being placed on Help to Buy, buy to let lending remains a priority for lenders with rates steadily dropping. The average two-year tracker is 3.90 per cent, down from 4.03 per cent in July 2013, and several lenders are now offering sub 3 per cent deals.
But surprisingly it is not necessarily buy to let specialists who are coming up trumps; in fact nearly all of the best deals are being offered by lenders who would not typically be considered as buy to let players. This just goes to show how important it is for a landlord to seek the help and advice of a professional mortgage broker who can offer a whole of market option.
Low rates do however come with a catch; unsurprisingly landlords will need a sizeable deposit in order to capitalise on the best deals. The most competitive rates require a deposit of at least 25 per cent. Many landlords however are able to meet such criteria by remortgaging
Goldsmith Williams can help with both the remortgaging and the purchase of buy to let properties. With over 25 years experience we can ensure all transactions are completed as quickly and seamlessly as possible so landlords can benefit from these competitive new rates.
Content correct at time of publication