Buy-to-let mortgage update - fixed rates edge up

Just a brief post to highlight some of the changes in the buy-to-let mortgage market this week. More from me in this weeks magazine article published Monday.

As we all know interest rates were kept on hold at 0.5% which was widely expected by the market. Therefore all steady as she goes on the good ship buy-to-let.

The Coventry has upped the LTV to 60% on their leading rate 5 year fixed rate buy-to-let mortgage of 5.4%.

Worryingly, there has been a trend this week of buy-to-let lenders withdrawing some of their fixed rate products and replacing them with mortgages with slightly higher fixed rates as SWAP rates have edged higher.

I'm hoping that lenders worried about future interest rate rises are shying away from competitive fixed rate products. I'll keep a close watch on this over the coming weeks.


Landlord insurance - professional advice and discounted rates

• Coventry BS
• ALL BUY-TO-LET PRODUCTS withdrawn & replaced with NEW FIXED RATE MORTGAGE of 5.40% to 30.6.14, w.e.f. 8.5.09....more
• 07 May 2009
• Godiva Mortgages
• ALL BUY-TO-LET PRODUCTS withdrawn & replaced with NEW FIXED RATE MORTGAGE of 5.40% to 30.6.14, w.e.f. 8.5.09....more
• 07 May 2009
• Exclusive Connections
• Buy-to-let FIXED RATE MORTGAGES funded by BM Solutions of 5.19% & 5.29% (excluding 'House 2 House') withdrawn. NEW FIXED RATE funded by BM Solutions for house purchase only of 5.59% to 1.7.11 & NEW VARIABLE TRACKER RATE of 4.95% for 2 years, w.e.f. 7.5.09....more
• 07 May 2009
• The Mortgage Works
• ALL BUY-TO-LET PRODUCTS withdrawn & replaced with NEW VARIABLE BASE RATE TRACKERS of 3.25% to 31.5.10 and 3.75%, 3.95% & 4.25% to 31.5.11 and FIXED RATES of 3.49% to 31.5.10, 4.49%, 4.74%, 4.99%, 5.24%, 5.49%, 5.74% & 5.99% to 31.5.11, 4.74%, 4.99%, 4.89%, 4.98%, 5.24%, 5.69% & 5.89% to 31.5.12, 5.84% & 6.34% to 30.4.14 and for single property remortgage only 4.19% to 31.5.10, 4.59%, 4.84%, 5.09% & 5.28% to 31.5.11, 5.34% & 5.59% to 31.5.12 and 5.99% to 30.4.14. All products now available to first time landlords to maximum 65% LTV. W.e.f. 7.5.09. ...more
• 07 May 2009
• Shepshed BS
• All buy-to-let MORTGAGE PRODUCTS withdrawn, w.e.f. 6.5.09....more
• 06 May 2009
• Woolwich
• NEW buy-to-let FIXED RATE MORTGAGE of 4.99% to 2.8.12 allowing a minimum property portfolio of 3 w.e.f. 6.5.09....more
• 06 May 2009
• Pink Home Loans
• Buy-to-let FIXED RATE MORTGAGES of 5.19% & 5.29% to 1.7.11 (excluding 'House 2 House') funded by BM Solutions withdrawn & replaced with NEW FIXED RATE of 5.59% to 1.7.11 & NEW VARIABLE TRACKER RATE MORTGAGE of 4.95% for 2 years, w.e.f. 2.5.09. ...more
• 05 May 2009
• The Mortgage Times
• Buy-to-let FIXED RATE MORTGAGES of 5.19% & 5.29% to 1.7.11 (excluding 'House 2 House') funded by BM Solutions, withdrawn & replaced with new VARIABLE TRACKER RATE of 4.95% for 2 years & FIXED RATE of 5.59% to 1.7.11, w.e.f. 2.5.09....more
• 05 May 2009
• Birmingham Midshires Solutions
• Buy-to-let VARIABLE TRACKER RATE MORTGAGE of 4.49% for 3 years withdrawn & replaced with new rates for purchase only of 3.75% & 4.15% for 2 years. FIXED RATES of 4.99%, 5.19% & 5.49% (max 70%) to 1.7.12 & 5.49% & 5.69% to 1.7.14 withdrawn & replaced with 5.19% & 5.59% to 1.7.12 & 5.84% to 1.7.14 & for purchase only of 5.29% to 1.7.11 & 5.39% to 1.7.12, w.e.f. 2.5.09....more
• 05 May 2009
• Yorkshire Bank
• END-DATES on Buy-to-let FIXED RATE MORTGAGES extended to 31 July & minimum advance increased to £25K, w.e.f. 5.5.09....more
• 05 May 2009
• Clydesdale Bank
• END-DATES on Buy-to-let FIXED RATE MORTGAGES extended to 31 July & minimum advance increased to £25K, w.e.f. 5.5.09....more
• 05 May 2009
• Bank of Scotland Mortgages
• Buy-to-let FIXED RATE MORTGAGE of 5.89% to 30.6.14 withdrawn & replaced with new rates of 5.99% to 30.6.14 for purchase & remortgage & for purchase only of 5.89% to 30.6.14, w.e.f. 2.5.09....more
• 05 May 2009
• Money Partners
• Buy-to-let PHONE NUMBER for intermediaries changed to 01895 876370, w.e.f. 1.5.09....more
• 05 May 2009
• Ipswich BS
• Buy-to-let FIXED RATE MORTGAGE of 4.99% to 31.7.11 restricted to intermediaries and direct business situated in postcodes IP, CO, CM, NR, CB and PE, w.e.f. 30.4.09....more
• 01 May 2009

Free property management software, Free tenancy agreements