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Best Buy to Let Interest Rate
Comments
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I understood the interpretation of single household in this instance included any AST, as they are all equally liable for the rent...(?)I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
That also means I cannot share in any profits from any decisions made!;)0 -
I understood the interpretation of single household in this instance included any AST, as they are all equally liable for the rent...(?)
HMO by definition will have to meet certain criteria to qualify as such. Its not just a question of more people living in the same property.
Barclays are restricting their lending market intentionally.0 -
Ok, I understand what you were getting at now. I was referring more to interest only mortgage. I have been buying and letting property for 3 years, so im not completely clueless, although im sure I have much to learn too.
In the residential mortgage markets interest only mortgages are starting to incur a higher rate of interest of .2% to .3%. This more than likely will happen across the board as lenders increase margins and also seek capital debt repayments to bolster their balance sheets.0 -
I understood the interpretation of single household in this instance included any AST, as they are all equally liable for the rent...(?)
Remember this is to asses the rent that will be counted, it will be based on single household, actual rent may not be counted even if it is more especialy if it is HMO which a house share could be even if a single AST.
I think these days assuming anything is risky0 -
While (sort of) still on the subject, has anyone got a good price comparison site to recommend for BTL mortgages please?
My main criteria would be low to no fees and the rate itself doesn't matter too much, as the outstanding balance isn't high. The problem is MoneySuperMarket doesn't show fees until you click on each individual deal :mad: Other comparison sites that advertise on TV are even worse, or don't do BTL at all.
Anyone please?0 -
low to no fees
Please define low.
No fees no chance.0 -
Low as in £500 or lower.
With a £35k mortgage, paying £1.5k in fees is a lot...0 -
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It's a residential mortgage currently
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3.19% at http://www.themortgageworks.co.uk/content/products/buy-to-let-mortgages.aspx
(That's a one year fixed for 70% LTV... 5.19% for a 2 year fixed... for stepped trackers, 4.6% for one year and then 2.6% for one year... etc etc etc....)
Principality Building Soc are offering 3.4% for a 2 year tracker or 4.6% fixed.
You don't seem to have looked very hard. Look on comparison websites and places like Charcol.
Hope that helped.
R0
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