With fixed rate buy-to-let mortgages continuing to edge up many landlords who are prepared to take the risk of interest rates remaining low for some time will be keeping an eye on variable rates to see whether it's worth swapping to an alternative buy-to-let mortgage.
I have therefore had a look at the buy-to-let mortgage market for some of the best variable rates around at the current time.
The leading rate currently available is from The Mortgage Works part of the Nationwide.
They are doing a base rate tracker of 2.95% above base until 31.07.10 with a max LTV of 70%.
For professional landlords looking for up to 75% one of the most attractive products available is from Cheltenham and Gloucester. They are currently doing a tracker rate based on base rate plus 4.49% which tracks BBR until 31.10.12. The maximum number of properties that the loan is available on is 9.
The grim reality is that availability of buy-to-let mortgage products continues to fall.
A quick search through all buy-to-let mortgages now available puts the total figure at around about the 100 mark. This compares with 1000s at the height of the buy-to-let lending boom.
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