but to let rates?

paulsm

Whats a good interest rate for a buy to let mortgage at the moment for a 105k mortgage , I have been quoted around 5.2 fixed for 2 years no set up fee. Just want to check around before signing.

silvercar

That looks good, I'm getting 5.39 on a lifetime tracker with no redemption penalites.

sconieroany

I am also looking for a best buy BTL mortgage, any tips on where to find the best rates. ?

silvercar

sconieroany wrote:

I am also looking for a best buy BTL mortgage, any tips on where to find the best rates. ?

See a mortgage broker. The calculations on what lenders will offer depends on so many things like the rental exceeding the mortgage paymetns by 25-35% at a set rate of interest (not the rate you pay) and loan to value ratios plus they examine your other commitments. A good broker will guide you through the minefield.

Alternatively post on here: purchase price, rental income, mortgage required.

sconieroany

silvercar wrote:

See a mortgage broker. The calculations on what lenders will offer depends on so many things like the rental exceeding the mortgage paymetns by 25-35% at a set rate of interest (not the rate you pay) and loan to value ratios plus they examine your other commitments. A good broker will guide you through the minefield.

Alternatively post on here: purchase price, rental income, mortgage required.

Thanks for you help.

Purchace price £79000, Rental income £450 PM, Motgage £67000.

I will phone London & Country Mortgages on Monday for advice as they scoured the marked for my own mortgage last year, but a deal with no set up charges for two or three years as with the original poster sounds good.

Does anyone know of a forum for BTL landlords for advice, best buys, insurance and the like, I have had a search but had no luck, I use forums for everything else so I presume there must be some for BTL.

Thanks again.

silvercar

With those figures you should have no problem getting a standard BTL mortgage. Choose from some of the "best buy" tables around. As long as the valuation comes in at the purchase price you should be OK.

(Your getting a better yield than me!)

As for a forum, I've seen the BTL board on https://www.singingpig.co.uk. Its very quiet, but a lot of expert advice. the rla have also got a forum but again its quiet.

sconieroany

Thanks again for your time.

sconieroany

paulsm wrote:

Whats a good interest rate for a buy to let mortgage at the moment for a 105k mortgage , I have been quoted around 5.2 fixed for 2 years no set up fee. Just want to check around before signing.

Can you tell me the lender that quoted you those figures ?

Thanks.

herbiesjp

sconieroany wrote:

Can you tell me the lender that quoted you those figures ?

Thanks.

Just a point - It may be a re-mortgage deal the OP has been offered as opposed to a purchase deal - maybe the OP could clarify

itsakidsworld

Company I use have just sent me a leaflet with a two year fixed rate of 5.25% until 31 August 2008, 3 year fixed at 5.3%.

I thought this was great. I am currently tied into the 3 year deal which at the time was 5.99% so the months cannot come quick enough for me (providing rates do not go up!!)

I will name the company if it is ok to do so and anybody is interested?

sconieroany

itsakidsworld wrote:

Company I use have just sent me a leaflet with a two year fixed rate of 5.25% until 31 August 2008, 3 year fixed at 5.3%.

I thought this was great. I am currently tied into the 3 year deal which at the time was 5.99% so the months cannot come quick enough for me (providing rates do not go up!!)

I will name the company if it is ok to do so and anybody is interested?

Please PM me.