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Buy to Let Remortgage - low early redemption fees
Dumbledore55
Posts: 1,435 Forumite
Hi
Does anyone know of any company doing a buy to let remortgage with low or preferably NO early redemption fees?
I can find plenty of deals for ordinary remortgages but none for Buy to Let.
Thanks
DD
Does anyone know of any company doing a buy to let remortgage with low or preferably NO early redemption fees?
I can find plenty of deals for ordinary remortgages but none for Buy to Let.
Thanks
DD
0
Comments
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UCB Home Loans who I used to work for do a Buy to Let ERC free remortgage, really nice people, 0845 950 1500, they also have a buy to let microsite, https://www.ucbhomeloans.co.uk/buytolet0
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There are quite a few - what figures are you looking at?
What is purchase price?
What is mortgage needed?
What is expected monthly rental income?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Remortgaging a £145K house - £60K outstanding
Hoping to reduce monthly payments
House rented out for £607 per month.
Initial fees with UCB seem quite high looking at the website.
Thanks
DD0 -
There are rates in the low 5%s
These all have varying fees etc. Some also have minimum income requirements, so although the loan is based on the rental income (which is fine) some lenders will want proof of say £20k or £30 k income.
As always it will depend on your individual circumstances.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I too am looking to renew a buy-to-let mortgage of £60k. The 2 or 3 year deals all seem to have fairly high entry costs and the rates are not that low anyway. I have been looking at the Flexx Mortgage (65% LTV) 5.34% deal offered by the Coventry, this will cost about £1000 all in to access, and there are no exit costs. The rate is not the lowest but is comfortable and it would be good to be able to stay with one lender for a long period and not spend £500 to £1000 every couple of years to avoid the punitive Standard Variable Rate (STV) and keep a low rate. However the statement "guaranteed to be no more than 2.00% above Standard Variable Rate for the term of the mortgage." causes me concern as their current STV is 6.79%. I went into the branch to see if they could give me any guidance, but it appears that they have not used this type of clause before. Has anyone experience of the Coventry or this type of clause?0
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