BTL mortgage advice

Bluebell1000

We're trying to think about what our best option will be for our BTL flat. It's currently on Halifax SVR (3.5%, soon to rise to 3.99%) under CTL. CTL expires in November this year, so we'll need to move onto a BTL mortage.

We're hoping to have enough to pay off the mortgage in about a years time, but we'll not have enough to be able to do that in November. We could possibly borrow from family to make up the shortfall. However just thought I'd start looking into mortgage products as I'd prefer not to owe family if possible, but BTL all seem to have big fees. I remember a few fees free ones around a while back, do they still exist? If we can get a better rate than the Halifax then it'd be worth switching early, as a years fix now would take us through to the point when we could repay the whole thing.

We'd only need to borrow about £10k but could take it a bit higher if there's a product minimum, as we can always pay a bit more off our residential mortgage instead! Property value about £75k.

Thanks!

sjlou

when speaking to my FA yesterday, we looked at BTL mortgages, most of them seem to have high product fees on them now.
Have a chat to an FA theyll be able to look at all the options for you and see which is best.

We've decided to match our fixed btl and residential mortgage to the same fixed terms so that we can review them together and look for the best overall, rather than each mortgage individually.