There has been a significant increase in the number of buy-to-let mortgage products available, with recent research by Mortgage Brain revealing that there are 1,853 mortgage deals on the market, up 52% year-on-year, but which deals are the best?
With competition between mortgage providers continuing to grow, buy-to-let landlords now have access to some of the cheapest ever buy-to-let mortgages deals.
Finding the right mortgage to suit your needs can be a challenge, and so we asked Moneyfact.co.uk to provide us with the following range of ‘best buy’ buy-to-let mortgage products currently available:
BEST BUYS - Direct Products – BTL 2 Year Fixed Rates | ||||
Provider | Rate | Period | Max LTV | Min Fee |
Virgin Money | 1.85% | 01/11/2018 | 60% | £1,995 |
Virgin Money | 1.99% | 01/11/2018 | 60% | £995 |
Principality BS | 2.10% | 30/09/2018 | 60% | £895 |
Virgin Money | 2.19% | 01/11/2018 | 75% | £1,995 |
Post Office Money® | 2.27% | 30/11/2018 | 70% | £995 |
Virgin Money | 2.45% | 01/11/2018 | 75% | £995 |
Skipton BS | 2.49% | 30/11/2018 | 70% | £995 |
Post Office Money® | 2.46% | 30/11/2018 | 75% | £995 |
Skipton BS | 2.59% | 30/11/2018 | 75% | £995 |
HSBC | 2.79% | 31/12/2018 | 75% | £349 |
BEST BUYS - Direct Products – BTL 3 Year Fixed Rates | ||||
Provider | Rate | Period | Max LTV | Min Fee |
Virgin Money | 2.29% | 01/11/2019 | 60% | £1,995 |
TSB | 2.54% | 30/11/2019 | 60% | £1,260 |
Virgin Money | 2.69% | 01/11/2019 | 60% | £995 |
State Bank of India | 2.79% | 3 years | 60% | - |
Virgin Money | 2.89% | 01/11/2019 | 70% | £995 |
Virgin Money | 2.99% | 01/11/2019 | 75% | £995 |
Principality BS | 3.05% | 30/09/2019 | 75% | £895 |
State Bank of India | 3.09% | 3 years | 70% | - |
Metro Bank | 3.09% | 3 years | 75% | £999 |
Cumberland BS | 3.26% | 01/11/2019 | 75% | £995 |
BEST BUYS - Direct Products – BTL 5 Year Fixed Rates | ||||
Provider | Rate | Period | Max LTV | Min Fee |
Virgin Money | 2.78% | 01/11/2021 | 60% | £1,995 |
Coventry BS | 2.59% | 31/01/2022 | 65% | £1,999 |
Leeds BS | 2.85% | 30/11/2021 | 60% | £999 |
Virgin Money | 2.89% | 01/11/2021 | 60% | £995 |
Skipton BS | 2.99% | 30/11/2021 | 70% | £1,995 |
Post Office Money® | 2.99% | 30/11/2021 | 70% | £995 |
Leeds BS | 3.15% | 30/11/2021 | 70% | £999 |
Post Office Money® | 3.13% | 30/11/2021 | 75% | £995 |
Aldermore | 3.99% | 5 years | 80% | 2.50% |
Clydesdale Bank | 4.99% | 30/11/2021 | 80% | £999 |
BEST BUYS - Direct Products – BTL 1st Time Landlord Rates | ||||
Provider | Rate | Period | Max LTV | Min Fee |
Virgin Money | 1.80% | 01/11/2018 | 60% | £995 |
Leek United BS | 1.99% | 2 years | 75% | £995 |
Virgin Money | 2.49% | 01/11/2018 | 75% | £995 |
Coventry BS | 2.09% | Term | 65% | £1,999 |
Virgin Money | 2.45% | 01/11/2018 | 75% | £995 |
HSBC | 2.79% | 31/12/2018 | 75% | £349 |
Virgin Money | 2.29% | 01/11/2019 | 60% | £1,995 |
Virgin Money | 2.99% | 01/11/2019 | 75% | £995 |
Coventry BS | 2.59% | 31/01/2022 | 65% | £1,999 |
Post Office Money® | 3.13% | 30/11/2021 | 75% | £995 |
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of course there is an increase in available products and no doubt this is due to the drop in applications for funds.
Seen this kind of knee-jerk reaction in many business' over the years and all it does is increase workload but not profit. They are just kidding themselves as there are only so many fish in the sea to catch and this number of catches is getting less and less. Just look at the figures for sales in this sector which is being haled by this an many publications as dropping off year on year.
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