looking for Cheapest B2L Morgage

suzi00

Hi all - if anyone can help i'd be grateful. I

'm searching for the cheapest buy-to-let morgage (the building society I applied for the current morgage have currently withdrawn their offer citing i recieved the wrong advice from one of their team!!!) - i'm due to complete on Jan 21st!!.

Need a buy-to-let for 50K on a 60K house in England rental returns expected 350/400 mark.

fees are my problem need to keep them as low as possible also want a home buyers survey and i want a fixed rate for up to 3 years.

I've gone through all the suggested brokers (can't afford to pay a fee) and i'm waiting for some to get back to me...i'll post any info i get.

cheapest i've found is coventry building socitey 5.89% with 6.79%APR - total fees inc home buyers survey will be £845.00

can anyone suggest anything cheaper?

appologies if this has already been posted i've looked but couldn't see a similar topic.

dougk_2

Bristol and West have a 5.59% fixed rate - Have just re-mortgaged with them. Fees are not cheap (mine were £995!) but can be added to the mortgage if required and questions are minimal!

You should just meet their requirements of 85% LTV as long as your income is greater than £15k pa. If not you can only borrow 75% LTV (so the website says!)

derbyjo

London and Country don't charge arrangement fee and are very good, I dealt with a guy called Nick Bye, they set up solicitors for me to deal with too and the experience was very painless. I've also bought through landlord mortgages who do have arrangment fees on some products but not all.
Good luck!

hairy_cornflake_2

BM solutions have a fixed B2L at 5.99% until 01/02/2007 with no fees (basic valuation fee refunded)

Mortgage Express have a fixed B2L at 5.49% until 31/03/2010 - £500 arrangement + valuation fee

Dont forget any fees you pay can be offset against your annual tax liability