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Good Mortgage Lender for Let Properties
fozzeh
Posts: 994 Forumite
Currently on a SVR rate of BR + 1.99%.
A further 1.5% is to be added on top in 5 months as the property is currently let (thanks Nationwide), taking it to a minimum 3.99% SVR. Fixed rates are currently lower/as good as that so maybe looking for a bit more security for 3 or 5 years. LTV is about 75% (£88k/£120k).
Can anyone offer any good recommendations for a mortgage providers who don't have any further levies on top of a fixed/variable rate? Got a friend who works in mortgages but not had chance to see him yet.
Ta.
A further 1.5% is to be added on top in 5 months as the property is currently let (thanks Nationwide), taking it to a minimum 3.99% SVR. Fixed rates are currently lower/as good as that so maybe looking for a bit more security for 3 or 5 years. LTV is about 75% (£88k/£120k).
Can anyone offer any good recommendations for a mortgage providers who don't have any further levies on top of a fixed/variable rate? Got a friend who works in mortgages but not had chance to see him yet.
Ta.
0
Comments
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Most landlords just have a variable rate mortgage. But some do like to fix their payments. It sounds like you have been granted permission to rent what was your home previously and Nationwide to be fair have been generous up to now. They are one of the last to start charging a bit more for what is really a commercial arrangement.
There are some very low BTL rates around but go back and have a look at the fee add it to the cost of the mortgage over the fixed period and convert that back to an interest rate and it wont look so good anymore.
Many BTL lenders have left the long term fixed rate market.I am a Mortgage AdvisorYou should note that this site doesn't check my status as a Mortgage Advisor, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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