BTL deal from BOI - can I trust it?

Thrugelmir

ReBop wrote: »

Has anybody got a crystal ball?

All part of running a business. You need to see what the impact will under various interest rate scenarios.

Then make a decision.

maldelm

You don't say what percentage loan you've got relative to the value of the property, which is a factor to consider. I have a BTL mortgage with the BOI, which I'm paying at 2.25%. It was originally at 85% LTV (loan to value), and even if this rate goes up it's unlikely I'll get a better all round deal.
Having said that, I also have BTL mortgages with Coventry / Godiva and they're pretty good. The two options you've been offered sound good, depending, as I say, on the LTV. It's probably worth you getting a valuation, try online valuations, eg Mouseprice, Zoopla, houseladder etc.
The NLA have a very good BTL mortgage website (nlamortgages.co.uk) with extensive mortgage tables, which is great for making comparisons. I may be worth chatting with a good IFA, as well- many will do a free initial consultation.