Search for a buy-to-let mortgage

Landlords who have read my previous posts will know that I have got to the stage where I have identified a buy-to-let mortgage that suited my needs, a 6.29% 2 year tracker. However, my dilemma was that I was not happy with the costs of securing this mortgage. Was there any alternative I thought on using a mortgage broker and having to pay their fees?

Buy-to-let mortgages - save time & money - expert brokers - 1 FORM

Saving money on getting your buy-to-let mortgage.
This is where a little bit of effort and undercover work by a landlord can work wonders. I knew the type of mortgage but just didn't know who it was from. Mortgage brokers aren't alway keen on giving these sorts of details away. To track down the lender I used the search facility on Property Hawk's mortgage section. All it involved was doing a search on tracker mortgages, scrolling down the results to find one with a pay rate of 6.29%. Low and behold, there it was the 6.29% tracker from The Mortgage Works.

I trust the Mortgage Works
I trust the Mortgage Works. Why? Well they are part of Nationwide which being the UKs biggest mutual has in my view trod the line very well between making a profit but also not ripping off it's customers. The other thing is being a building society it is able to attract funds from it's retail customers at reasonable rates and therefore is not so reliant on the very expensive money markets for funds.

A quick glance at some of their rates showed it was possible to get a tracker rate as low as 4.99%. However the Loan To Value (LTV) on that was 60% plus it had a hefty arrangement fee of 3.75% (min £875). I wanted 75% LTV and was not prepared to pay a fee of that scale which after all really is dead money.

Therefore, satisfied with my original selection; my dilemma now was that given TMW buy-to-let mortgages were only available through an intermediary such as a mortgage broker was how I could access this mortgage but avoid paying such a large amount in brokers fees.

To be cont......