Best buy-to-let mortgages: rates at a record low ...

Looking for a buy-to-let mortgage? There are some excellent deals available – provided you know where to look.

The number of buy-to-let loans secured by buy-to-let landlords increased in January to the second highest monthly level since the introduction of the 3% stamp duty surcharge on second homes in April 2016, behind November 2016, the latest figures show.

The rise in buy-to-let lending, including remortgages, is being fuelled by record-low borrowing rates, with lenders cutting costs across a range of products in an effort to entice buy-to-let investors.

“There are some fantastic deals out there for buy-to-let, with low rates and decent incentive packages available to reduce the cost of the mortgage itself – particularly as some rates are priced in at sub-2%,” said Rachel Springall, finance expert at Moneyfacts.

Virgin Money, for instance, is currently offering a buy-to-let deal priced at 1.54% fixed until 1st September 2019 for borrowers with a 40% deposit, subject to a £1,995 product fee and £500 cashback, but overall, the average fixed buy-to-let mortgage comes in at 3.34%, down from 3.63% a year ago, according to Moneyfacts.

Figures presented to Landlord Today by Moneyfacts reveal that there are currently 1,556 buy-to-let mortgage products available, up from 1,352 a year ago.

Here are some of the ‘best buy’ buy-to-let mortgage products currently on the market:


BEST BUYS - Direct Products – BTL 1st Time Landlord Rates

	Provider	Rate	Rate Type	Period	Max LTV	Min Fee	Redemption	Incentives
	Virgin Money	1.80%	Variable	01/07/2019	60%	£995	To 01/07/2019	£500 cashback. No Higher Lending Charge (HLC).
	Leek United BS	1.99%	Variable	2 years	75%	£1,495	1st 2 years	Refund valuation fees (Max £341). No Higher Lending Charge (HLC).
	Virgin Money	2.29%	Variable	01/07/2019	75%	£995	To 01/07/2019	£500 cashback. No Higher Lending Charge (HLC).
	Coventry BS	1.69%	Variable	Term	65%	£1,999	None	Free valuation fees (Max £700), remortgage customers get free legal fees. No Higher Lending Charge (HLC).
	Post Office Money®	1.98%	Fixed	30/04/2019	75%	£995	To 30/04/2019	No Higher Lending Charge (HLC).
	Virgin Money	1.99%	Fixed	01/07/2019	75%	£1,995	To 01/07/2019	£500 cashback. No Higher Lending Charge (HLC).
	Post Office Money®	2.28%	Fixed	30/04/2020	60%	£995	To 30/04/2020	No Higher Lending Charge (HLC).
	Barclays Mortgage	2.89%	Fixed	31/05/2020	75%	-	To 31/05/2020	Remortgage customers get free valuation fees and free legal fees. No Higher Lending Charge (HLC).
	Barclays Mortgage	2.49%	Fixed	31/05/2022	65%	£1,850	To 31/05/2022	Remortgage customers get free valuation fees and free legal fees. No Higher Lending Charge (HLC).
	HSBC	2.79%	Fixed	30/06/2022	75%	£1,999	To 30/06/2022	No Higher Lending Charge (HLC).

BEST BUYS - Direct Products – BTL 2 Year Fixed Rates

	Provider	Rate	Rate Type	Period	Max LTV	Min Fee	Redemption	Incentives
	Virgin Money	1.54%	Fixed	01/07/2019	60%	£1,995	To 01/07/2019	£500 cashback. No Higher Lending Charge (HLC).
	Post Office Money®	1.75%	Fixed	30/04/2019	60%	£995	To 30/04/2019	No Higher Lending Charge (HLC).
	Post Office Money®	1.93%	Fixed	30/04/2019	70%	£995	To 30/04/2019	No Higher Lending Charge (HLC).
	Post Office Money®	1.98%	Fixed	30/04/2019	75%	£995	To 30/04/2019	No Higher Lending Charge (HLC).
	Virgin Money	1.99%	Fixed	01/07/2019	75%	£1,995	To 01/07/2019	£500 cashback. No Higher Lending Charge (HLC).
	Leek United BS	2.14%	Fixed	30/06/2019	75%	£1,495	To 30/06/2019	Refund valuation fees (Max £341). No Higher Lending Charge (HLC).
	Principality BS	2.30%	Fixed	30/04/2019	60%	-	To 30/04/2019	Free valuation fees. Remortgage customers get free legal fees. No Higher Lending Charge (HLC).
	Virgin Money	2.45%	Fixed	01/07/2019	75%	£995	To 01/07/2019	£500 cashback No Higher Lending Charge (HLC).
	HSBC	2.54%	Fixed	30/06/2019	75%	£349	To 30/06/2019	No Higher Lending Charge (HLC).
	Post Office Money®	2.63%	Fixed	30/04/2019	75%	-	To 30/04/2019	Free valuation fees. Remortgage customers get free legal fees. No Higher Lending Charge (HLC).

	Source:	Moneyfacts.co.uk

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