Buy to let advice

tojoslaffy

I have a buy-to-let mortgage of £90k on a SVR of BoE base rate (0.5%) + 3% = 3.5% currently. I know the base rate will rise soon increasing my repayments. However the range of buy-to-let products are few, high rates and high fees. I know more and more lenders will likely re-enter the buy-to-let market over the coming months. Do you think I should remortgage now at a high rate and high fees or hang on to my relatively low SVR and wait for better buy-to-let deals. Thanks.

herbiesjp

What is the property value and rental income?

The LTV and rental coverage are what dictate access to the best rates.

A BTL came back to the market yesterday, and I'm sure they will start to bring out new deals very soon

Thrugelmir

tojoslaffy wrote: »

I know more and more lenders will likely re-enter the buy-to-let market over the coming months.

I wouldn't expect a flood of new lenders in the market any time soon. The largest lender that drove the BTL market B&B (Mortgage Express) has gone. Irish banks will be pulling out of the UK mortgage market as well. So unsure where these new "lenders" are going to materialise from.