Buy to Let - Mortgage rates

Spooneroonie

I have a BTL property at an LTV of about 60%. The mortgage deal I am on at the moment is due to come up next year, and I was wondering what people thought likely to be happening to BTL rates, and whether they are going to be so high that I ought to start thinking about selling.

Any thoughts / help much appreciated!

brit1234

Could be a good time to sell while a lot of people still think prices will rise. That way you should get a buyer before people actually realise the prices are to fall.

Buy to let costs will remain due to the higher percieved risks, ie more likely to fall behind with payment (Treasury Select Comitee).

mlz1413

Depends on the election, if labour get back in they are likely to keep up quantitative easing so rates could well remain the same. But the Cons & Lib-Dem are unlikely to take the same policy - but will we see 18% again? Without a crystal ball it really is all guess work.

Do you want to sell up? If yes then do it, if no then work out what interest rate you can afford to pay and try and get a fixed rate - there are deal for less then 5% on a 2 yr fixed rate if you only need 60% LTV, but make sure you read the fees!