B2L Long Term Fixed Rate Mortgage

nmd001

Hi all, first time poster.

Does anyone know of any long term fixed rate buy to let mortgages.

Would prefer to have the rate fixed for as long as possible, at least 10 years.

Any help greatly appreciated.

Thanks

Neil

MortgageMamma

not off the top of my head but i will have a look for you

MortgageMamma

5.99 fixed until 31/12/2007 with a 599 arrangement fee - the mortgage works

dunstonh

check your year of expiry on that post MM

MortgageMamma

lol too much vino, 2017 thanks D x

nmd001

Thanks,

Have had a look at their website, will look further into it tomorrow.

I am looking to remortgage my old flat which i left a year ago to move into my current house. The lender consented to us letting the property and their was 2 years remaining on the fixed rate.

Currently their is under 1 year remaining and the ERC is £600. I suspect that by the time the mortage had come to an end the interest rates will have increased, therefore, the ERC should become insignificant in the grand scheme of things.

The property value is circa £125k and the outstanding amount is £78k. The repayments are £540 per month and the rental income is £475. The property is in a very good well sought area and the longer term aim for us is to move back into the property in our later years, the shortfall between rent and repayment isn't a concern.

The decision now is how much to borrow against this property as we have just purchase another property to let out and will need some money for the deposit.

Having looked at the mortgage works website i think i'll go for the 10y fixed 75% LTV mortgage and borrow £90k.

Don't know how long we are going to hold onto property number 2 for, it will probably be for less than 3 years though, any advice on a mortgage product for it (would prefer to opt for a 2yr fixed rate but if there is a better option then will consider it). This property value is only £57k, will put down 15% deposit (£8.5k) and already have tenant (brother in law) for probably first 2 years who will pay £500 per month.