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Buy to Let With Santander
paul7blake
Posts: 6 Forumite
Hi,
We rent out a property in the UK on a buy to let mortgage with Santander. It's currently on a 4.74% variable rate (3.99% fixed rate ended early 2016).
I've read that the Bank of England has dropped the interest base rate. Does this mean if i wait, i could see a lower fixed rate from Santander than the 3.49% fixed rate that they offered me last month?
(FYI all rates mentioned were no fee rates)
Best Wishes,
Paul.
We rent out a property in the UK on a buy to let mortgage with Santander. It's currently on a 4.74% variable rate (3.99% fixed rate ended early 2016).
I've read that the Bank of England has dropped the interest base rate. Does this mean if i wait, i could see a lower fixed rate from Santander than the 3.49% fixed rate that they offered me last month?
(FYI all rates mentioned were no fee rates)
Best Wishes,
Paul.
0
Comments
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What determines lenders rates is the the cost of money. While BOE base rate is an influence it isn't the only factor. Rates can only fall so far. As there's overheads, bad debts etc to cover. Nor forgetting that lenders need to make a profit as bank balance sheets are still being built up.0
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The strict answer to your question is "yes you could". Which is different to "yes you will".0
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