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Andy Young, at Property Hawk Mortgages says:
The buy-to-let mortgage market has been relatively stable over the last month or so without any dramatic rate changes or surprising lender announcements causing big waves. This is not to say that it has been a sea of total calm as there will always be some ripples in the marketplace.
The fact remains that there is now a high number of lenders and products available for landlords to choose from, to suit a wide range of circumstances. Property Hawk Mortgages currently has over 500 products available from 25 different lenders.
No fee/ low fee products
Landlords are often interested in products that have no lender completion fee in order to minimise the upfront costs associated with taking out a new mortgage. With completion fees as high as 3% with some lenders, this equates to a fee of £4500 on a buy-to-let mortgage of £150,000. Some lenders allow you to add this fee to the loan but then, of course, you will be paying interest on this for the term of the loan.
There is currently a good selection of ‘no completion fee’ products from 10 different lenders including Natwest, Virgin Money, Godiva, Platform and The Mortgage Works.
There are also some competitive rates available from Accord Buy to Let which have low completion fees and come with incentives such as a free valuation and cashback.
Natwest – 3.59% tracker until 31/10/2016 up to 70% LTV with no completion fee
Platform – 4.04% fixed until 31/07/2016 up to 75% LTV with no completion fee and free legals for remortgages
Godiva – 3.69% fixed until 31/07/2016 up to 65% LTV with no completion
Accord – 3.69% fixed until 30/06/2016 up to 75% LTV with a £195 completion fee, free valuation and £300 cashback
Additional niche lender
Property Hawk Mortgages has recently added another lender to its sourcing system to provide more options for landlords looking for specialised buy-to-let finance. Market Harborough Building Society has products available for limited companies, expats and holiday lets.
New exclusives with Mortgage Trust
Property Hawk Mortgages has just launched two market-leading exclusive buy-to-let mortgages with Mortgage Trust which are available up to 80% LTV:
Mortgage Trust – 3.75% 2 year tracker up to 80% LTV with a 2.5% completion fee and a free valuation
Mortgage Trust – 3.99 fixed until 31/10/2016 up to 80% LTV with a 2.5% completion fee and a free valuation
The buy-to-let mortgage market has been relatively stable over the last month or so without any dramatic rate changes or surprising lender announcements causing big waves. This is not to say that it has been a sea of total calm as there will always be some ripples in the marketplace.
The fact remains that there is now a high number of lenders and products available for landlords to choose from, to suit a wide range of circumstances. Property Hawk Mortgages currently has over 500 products available from 25 different lenders.
No fee/ low fee products
Landlords are often interested in products that have no lender completion fee in order to minimise the upfront costs associated with taking out a new mortgage. With completion fees as high as 3% with some lenders, this equates to a fee of £4500 on a buy-to-let mortgage of £150,000. Some lenders allow you to add this fee to the loan but then, of course, you will be paying interest on this for the term of the loan.
There is currently a good selection of ‘no completion fee’ products from 10 different lenders including Natwest, Virgin Money, Godiva, Platform and The Mortgage Works.
There are also some competitive rates available from Accord Buy to Let which have low completion fees and come with incentives such as a free valuation and cashback.
Natwest – 3.59% tracker until 31/10/2016 up to 70% LTV with no completion fee
Platform – 4.04% fixed until 31/07/2016 up to 75% LTV with no completion fee and free legals for remortgages
Godiva – 3.69% fixed until 31/07/2016 up to 65% LTV with no completion
Accord – 3.69% fixed until 30/06/2016 up to 75% LTV with a £195 completion fee, free valuation and £300 cashback
Additional niche lender
Property Hawk Mortgages has recently added another lender to its sourcing system to provide more options for landlords looking for specialised buy-to-let finance. Market Harborough Building Society has products available for limited companies, expats and holiday lets.
New exclusives with Mortgage Trust
Property Hawk Mortgages has just launched two market-leading exclusive buy-to-let mortgages with Mortgage Trust which are available up to 80% LTV:
Mortgage Trust – 3.75% 2 year tracker up to 80% LTV with a 2.5% completion fee and a free valuation
Mortgage Trust – 3.99 fixed until 31/10/2016 up to 80% LTV with a 2.5% completion fee and a free valuation
Search the whole BTL mortgage market free
Email:info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446
Email:info@propertyhawkbtlmortgages.co.uk
Tel: 029 2069 5446
Your home may be repossessed if you do not keep up repayments on your mortgages.
The Financial Services Authority does not regulate some forms of mortgage.
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2 comments:
Just a heads up that the Market Harborough website currently (20/6/14) says: Due to a high level of demand our Buy to Let mortgage products have been temporarily withdrawn for new applications. Please check this page from time to time for updates.
Just to avoid any possible confusion, the comment "Please check this page from time to time for updates" is a direct quote and a reference to the Market Harborough Buy to Let webpage not the Property Hawk website. cheers
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