Latest Comments

Create an Article or Discussion

The average buy-to-let mortgage rates for some typical two-year fixed rate deals favoured by landlords have doubled since the start of the year, it has been revealed. According to Property Master's Mortgage Tracker, the average rate for a typical £160,000 BTL mortgage fixed for two years for a Loan to Value (LTV) of 60% had more than doubled since the start of this year – from 1.69% in January to 3.43% in August. This took the monthly cost, including fees, from £262 to £494, an increase of £232. The online buy-to-let mortgage broker also found that the same mortgage fixed for five years had also increased dramatically from 1.94% in January to 3.5% in August - an increase in monthly costs, including fees, from £273 in January to £481 in August, up £208. 'Cost of buy-to-let mortgages continues to rise inexorably' Angus Stewart, Property Master's chief executive, said: "The cost of buy-to-let mortgages continues to rise inexorably. "Obviously, much of this reflects the Bank of England's decision to hike interest rates for the sixth time earlier this month but there are other factors at play too. "We are seeing reduced competition in the buy-to-let mortgage market caused by a combination of factors with some lenders using higher rates to manage customer demand, whilst others are taking the opportunity to widen their margins." He added: "We have said for some years that increased regulation and higher costs were leading to the professionalisation of the private rented sector. "In reality, this will mean fewer but larger landlords. 'Unaffordable rises in mortgage costs' "For many of the smaller players in this market, unaffordable rises in mortgage costs will undoubtedly lead them to conclude buy-to-let no longer works for them. "Indeed, the latest figures from HMRC show a dramatic increase in takings from Capital Gains Tax suggesting many landlords are deciding this is the moment to sell-up." The Property Master Buy-to-let Mortgage Tracker follows 30 lenders who constitute around 75% of total BTL mortgage lending.

Some BTL mortgage rates have doubled this year - as rates rise 'inexorably'

Author: Property118.com Landlord News Team

2 comments so far

Old Mrs Landlord left the latest comment

guarantors for all tenants property118.com

Is it time for landlords to have guarantors for all tenants?

Author: Readers Question

13 comments so far

Puzzler left the latest comment

painting flat property118.com

Return of deposit with Blu Tack marks on walls

Author: Readers Question

16 comments so far

Chris H left the latest comment

DPS report record rent increases

Author: Property118.com Landlord News Team

10 comments so far

Beaver left the latest comment

Shelter's warning after landlord repossessions rise

Author: Property118.com Landlord News Team

10 comments so far

Northernpleb left the latest comment

rats in cages tenants reference property118.com

Unacceptable tenants - do I need to supply a reference?

Author: Readers Question

6 comments so far

Bristol Landlord left the latest comment

I'm selling my rental property - but tenants are struggling to find a home

Author: Readers Question

16 comments so far

Gillian Schifreen left the latest comment

Red double-decker bus passing through central London street with historic and modern buildings.

London landlords urged to sell homes to councils - not to other investors

Author: Property118.com Landlord News Team

8 comments so far

Luke P left the latest comment

Property118 Monthly Reader Poll

Property118 Monthly Reader Poll

Short-term let over the winter to cover energy prices?

Author: Readers Question

11 comments so far

DPT left the latest comment

refugee uk uc landlord property118.com

Anyone housed an Afghan family via an AST?

Author: Readers Question

6 comments so far

Mick Roberts left the latest comment

Where UK property investors are bulk buying to boost their portfolios

Author: Property118.com Landlord News Team

1 comments so far

Mick Roberts left the latest comment

durham selective licensing property118.com

Selective licensing will hit landlords in the cost-of-living crisis

Author: Property118.com Landlord News Team

1 comments so far

Mick Roberts left the latest comment

Tenant's poor housekeeping causing property disrepair?

Author: Readers Question

6 comments so far

Jessie Jones left the latest comment