Buy to let boost

If you are thinking of becoming a landlord, now is the perfect opportunity. Property Master has revealed that there has been a fall across the board in fixed rate buy to let mortgage rates between June and July

The online investment platform measures the rates on a hypothetical interest-only loan of £150,000. They look at deals from 18 of the biggest lenders in the buy to let market.

They found that the biggest fall recorded was for a 5 year fixed rate for 75 per cent of the value of a property which fell by £36 per month. 5 year fixed rate for 65 per cent of the properties value fell by £6.

Two year fixed rate for 75 per cent of the value of a property fell by £8 per month. Other two year fixed rate mortgages for 50 and 60 per cent fell by £5 each.

Angus Stewart, Property Master’s chief executive, says: “It’s likely that lower rates are also being fuelled by the continuing increase in the number of buy to let mortgage products. Whilst it’s true some lenders have exited the market others are boosting their range and competing hard for new business.

There are some fantastic buy to let deals out there at the moment – so if you are thinking of taking the plunge and becoming a landlord call our offices today to make an appointment with our lettings specialists or our mortgage team to find out more

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