BTL Archives - Page 6 of 16

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.

The same BTL mortgage deal that is worse for existing customers?

Author: Readers Question

11th December 2023, 3 years ago | 4

Hi, The mortgage lenders have got creative with BTL deals of late. Higher fees for lower rates, but this bit...

pic of approved btl mortgage application form property118

Struggling To Get a Mortgage – Maybe We Can Help

Author: Malcolm Jones

8th December 2023, 3 years ago | 0

The mortgage market has been through a tough time in recent months, following 14 months of consecutive base rate increases....

BTL Mortgages starting below 4%

Author: Howard

1st December 2023, 3 years ago | 0

CHL Mortgages has expanded its product range, and now includes standard buy-to-let two-year fixed-rate mortgages up to 65% loan to...

£ for £ remortgage with NO Interest Cover Ratio

Author: Howard

29th November 2023, 3 years ago | 0

In the current market, some landlords are struggling to meet the lender’s requirement for rental income to be 125% –...

Landbay break the sub 5% BTL barrier!

Author: Howard

20th November 2023, 3 years ago | 0

Landbay, the BTL powerhouse taking on the bigger lenders in the fold have released a 4.75% mortgage rate! This is...

Landlords slash borrowing amid rising interest rates

Author: Property118.com Landlord News Team

13th November 2023, 3 years ago | 0

Buy to let landlords have cut down their mortgage debt by almost 20% in a year of economic turmoil, according...

Landbay's sales and distribution director, Rob Stanton wearing a light blue suit and white shirt

Landbay cuts BTL rates as swap rates fall

Author: Property118.com Landlord News Team

9th November 2023, 3 years ago | 0

Landbay has announced a second round of rate reductions in just over a week, taking advantage of the falling swap...

Landlords split on selling property amid rising costs

Author: Property118.com Landlord News Team

7th November 2023, 3 years ago | 4

Landlords in the UK have different plans for their portfolios in the next 12 months, with two-thirds (66%) of landlords...

Landbay cuts the rates on its buy to let products

Author: Property118.com Landlord News Team

1st November 2023, 3 years ago | 1

Landlords looking to buy or remortgage properties can benefit from lower rates and more choices from Landbay. That’s because the...

Landlords still keen to buy despite challenges, survey shows

Author: Property118.com Landlord News Team

27th October 2023, 3 years ago | 5

Nearly a third (32%) of buy to let landlords are planning to buy more property in the next 12 months,...

Landbay cuts rates and launches new 55% LTV range for BTL landlords

Author: Property118.com Landlord News Team

19th October 2023, 3 years ago | 3

Specialist buy to let lender Landbay has announced a 0.10% reduction across its standard five-year fixed rate products, as well...

Property expert discussing landlord sentiment after stamp duty increase

Buy to let profitability rises despite higher costs and inflation

Author: Property118.com Landlord News Team

16th October 2023, 3 years ago | 14

The profitability of buy to let properties in the UK has increased over the last year, according to new research....

TMW cuts rates on Buy to Let Switcher range

Author: Property118.com Landlord News Team

13th October 2023, 3 years ago | 0

Landlords who want to switch their buy to let mortgages can benefit from lower rates offered by The Mortgage Works...

Fleet Mortgages cut rates on all BTL five-year fixes

Author: Property118.com Landlord News Team

2nd October 2023, 3 years ago | 4

Fleet Mortgages has announced a significant reduction in rates for all five-year fixed-rate products across its three core ranges: standard,...

Business leader discussing UK property market outlook amid Budget uncertainty

How rising interest rates could hit BTL landlords

Author: Property118.com Landlord News Team

29th September 2023, 3 years ago | 1

Since most buy-to-let landlords are heavily reliant on mortgages, there is a potential regional impact should interest rates rise again,...

Precise Mortgages boosts its buy to let affordability options

Author: Property118.com Landlord News Team

26th September 2023, 3 years ago | 0

Precise Mortgages has announced changes to its buy to let affordability criteria that could benefit personal ownership and limited company...

Where to invest in buy to let properties for the highest rental yields

Author: Property118.com Landlord News Team

25th September 2023, 3 years ago | 2

With landlords facing lower profits than ever before, according to the National Residential Landlords Association, one lender has worked out...

Photo of Gina Peters author of 'Lettings Law for Property Professionals' property118.com

Call for government action as landlords choose to sell up

Author: Property118.com Landlord News Team

21st September 2023, 3 years ago | 2

The UK’s rental market is facing a crisis as many landlords are choosing to sell their properties due to new...

Despite rising costs, landlords see portfolio income rise by 8.7% – in London it’s a whopping 32.9%

Author: Property118.com Landlord News Team

20th September 2023, 3 years ago | 5

Landlords in England and Wales have earned more from their rental properties in the past year, a study reveals. According...

Paragon Bank cuts buy to let mortgage rates for landlords

Author: Property118.com Landlord News Team

5th September 2023, 3 years ago | 6

Paragon Bank has unveiled a major product refresh that has seen rates reduced across 22 buy to let mortgage products,...

Soaring mortgage rates see cash buyers gain an advantage

Author: Property118.com Landlord News Team

29th August 2023, 3 years ago | 1

Cash buyers are taking advantage of their stronger negotiating position over their mortgage-reliant investors because they can secure prices lower...

Tag: BTL