Best Buy-to-let mortgage rates from the small guys

The last few months has seen a dramatic change in the buy-to-let mortgage market as many of the giants of the buy-to-let market have made a sharp exit. This includes Northern Rock and Mortgage Express, both now nationalised. Also other big lenders such as Paragon and the the Mortgage Works have stopped lending.

The result is that bizarrely some of the biggest players left are paradoxically the small building societies. A quick skim through the best buy pages of Moneyfacts highlights the top deals all being provided apart from Cheltenham Gloucester who are part of Barclays by traditional building societies. Many of which, such as the Shepshed BS and the Leek BS are hardly household names in the buy-to-let lending world.

So who's offering the best deal at this moment:


The best of the bunch is the Shepshed who make a welcome return to the buy-to-let market.
They are offering a 4.99% 2 year base rate tracker. LTV is 75%, the fee is £999 but £849 can be added to the loan. There are no limits on portfolio size but Shepshed will only lend in England and Wales outside of the M25.

Other lenders worth looking at are the Leeds BS, National Counties BS and The Leek BS.

For more of the best deals have a look at Moneyfacts best buys