This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Cookie Policy. Read more

Buy To Let Mortgage Hotline - Call 0117 403 4222

1.75% 2 Year Fixed

  • Overall cost for comparison 4.3% APRC

Representative Example: Mortgage of £120,000 on property valued at £200,000 over term of 25 years. Rate fixed for 2 years after which reverts to Post Office variable rate of 4.74%.

Call Post Office FREE on 0808 178 6813

2.68% 5 Year Fixed

  • Overall cost for comparison 4.0% APRC

Representative Example: Mortgage of £120,000 on property valued at £200,000 over term of 25 years. Rate fixed for 2 years after which reverts to Post Office variable rate of 4.74%.

Call Post Office FREE on 0808 178 6813

Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 1.43%
Rate type: Fixed Oct-2019
Monthly cost: £488.68 per month
Max LTV: 60%
Product fee: £2270.00
Overall cost for comparison: 4.5% APRC
Barclays Bank logo 1.43% Fixed Oct-2019 4.5% APRC 60% £2270.00 £488.68 per month get quotes Call direct0117 313 7780
Initial rate: 1.43%
Rate type: Fixed Oct-2019
Monthly cost: £484.13 per month
Max LTV: 60%
Product fee: £1320.00
Overall cost for comparison: 4.3% APRC
Barclays Bank logo 1.43% Fixed Oct-2019 4.3% APRC 60% £1320.00 £484.13 per month get quotes Call direct0117 313 7780
Initial rate: 1.44%
Rate type: Fixed Jan-2020
Monthly cost: £486.96 per month
Max LTV: 60%
Product fee: £1755.00
Overall cost for comparison: 4.2% APRC
Santander UK Plc logo 1.44% Fixed Jan-2020 4.2% APRC 60% £1755.00 £486.96 per month get quotes Call direct0117 313 7780
Initial rate: 1.44%
Rate type: Fixed Jan-2020
Monthly cost: £486.96 per month
Max LTV: 60%
Product fee: £1755.00
Overall cost for comparison: 4.2% APRC
Santander UK Plc logo 1.44% Fixed Jan-2020 4.2% APRC 60% £1755.00 £486.96 per month get quotes Call direct0117 313 7780
Initial rate: 1.44%
Rate type: Fixed Jan-2020
Monthly cost: £486.96 per month
Max LTV: 60%
Product fee: £1755.00
Overall cost for comparison: 4.2% APRC
Santander UK Plc logo 1.44% Fixed Jan-2020 4.2% APRC 60% £1755.00 £486.96 per month get quotes Call direct0117 313 7780
Initial rate: 1.48%
Rate type: Fixed Oct-2019
Monthly cost: £491.02 per month
Max LTV: 60%
Product fee: £2270.00
Overall cost for comparison: 4.5% APRC
Barclays Bank logo 1.48% Fixed Oct-2019 4.5% APRC 60% £2270.00 £491.02 per month get quotes Call direct0117 313 7780
Initial rate: 1.6%
Rate type: Tracker 2 years
Monthly cost: £496.66 per month
Max LTV: 60%
Product fee: £2270.00
Overall cost for comparison: 4.5% APRC
Barclays Bank logo 1.6% Tracker 2 years 4.5% APRC 60% £2270.00 £496.66 per month get quotes Call direct0117 313 7780
Initial rate: 1.69%
Rate type: Fixed Dec-2019
Monthly cost: £496.22 per month
Max LTV: 60%
Product fee: £1670.00
Overall cost for comparison: 4.3% APRC
BM Solutions logo 1.69% Fixed Dec-2019 4.3% APRC 60% £1670.00 £496.22 per month get quotes Call direct0117 313 7780
Initial rate: 1.69%
Rate type: Fixed Dec-2019
Monthly cost: £496.25 per month
Max LTV: 60%
Product fee: £1061.00
Overall cost for comparison: 4.6% APRC
Skipton BS logo 1.69% Fixed Dec-2019 4.6% APRC 60% £1061.00 £496.25 per month get quotes Call direct0117 313 7780
Initial rate: 1.88%
Rate type: Tracker Feb-2020
Monthly cost: £510.20 per month
Max LTV: 60%
Product fee: £2273.00
Overall cost for comparison: 4.4% APRC
NatWest logo 1.88% Tracker Feb-2020 4.4% APRC 60% £2273.00 £510.20 per month get quotes Call direct0800 056 8572
12345678910...

Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Buy to Let Mortgage Trackers

Buy to Let Mortgage Tracker

When it comes to deciding on what type of buy to let mortgage is right for you, you have a range of options to choose from. Tracker deals are often described as the most transparent of the buy to let mortgage products.

How does a tracker rate buy to let mortgage work?

A tracker rate works by following another rate. It can sometimes track below the rate it is following, but more often than not, it tracks at a percentage above it. A tracker tends to be marketed as ‘base rate plus x per cent’, the x percent being the amount the lender adds on top.

Changes to buy to let mortgage regulations

Tracker mortgages may provide a viable buy to let option, but before applying for a tracker mortgage it is important to note the changes in the buy to let mortgage market.

The Bank of England’s Prudential Regulation Authority implemented changes to the regulations that govern the buy to let mortgage market in 2017. As a result, lenders have changed the way they review landlord’s buy to let mortgage applications.

Firstly, lenders require landlords to have a rental coverage ratio of at least 145% of the mortgage payments for a standard buy to let and 170% for a house in multiple occupation. It should be noted that landlords cannot simply raise the rent themselves, as lenders will only accept a rental coverage ratio that is based on a professional surveyor’s valuation.

Secondly, landlords’ income will be more heavily scrutinised than before. Lenders will implement a stricter income stress test than in previous years. To satisfy the income stress test, landlords will have to prove that they can afford mortgage payments in the event that interest rates increase to 5.5%.

Finally, lenders will not provide a buy to let mortgage to landlords with one or more properties that are not profitable. Lenders will review the landlord’s entire property portfolio to ensure that all of their properties provide a positive return. As a result, landlords can no longer spread equity across their portfolio and if they have one or more properties that do not provide a profit then they will not receive a buy to let mortgage. 

Things you should know about a tracker mortgage

Tracker rate buy to let mortgages can offer an attractive deal. However, there are some key considerations you should look at when making your decision. Tracker mortgages often appeal to investors as they can take advantage of:

Low Interest Rates – A tracker mortgage deal can have the potential to offer a very low rate of interest. For instance, if you took out a tracker mortgage at a +1% above the base rate, you would only pay 1.25%. If interest rates remain low, you could benefit from paying less back monthly on your mortgage than you might do with a fixed rate or variable rate buy to let mortgage.

Not being subject to change in your lender's SVR – As a tracker rate is determined by the base rate, you will not be affected by increases in your lender's SVR.

Flexible overpayments – The majority of lenders offering tracker rates will allow borrowers to make penalty-free overpayments on their tracker mortgage. Whilst your tracker rate is low, you can take advantage of it by overpaying on your mortgage and shortening the total length of time it takes to pay back.

Whilst these factors make a tracker buy to let mortgage a lucrative and appealing investment opportunity, there are also other aspects that you should consider when looking to apply for a tracker rate loan.

Early repayment fees – If you decide to leave a tracker buy to let mortgage before the end of the set term, you might face early repayment penalty fees.

Security of rate – Although your tracker rate may not be subject to changes in your lenders SVR, it is still has the potential to be skyrocketed should the Bank of England’s base rate suddenly increases.

If you would like to compare top buy to let tracker mortgage deals, or would like any advice on whether a tracker rate is for you call us today on 0117 403 4222, or fill in our online contact form to request a call back.

house icon

Call 0117 313 7780 or Request Callback for our Buy to Let Mortgage Team

For a FREE initial conversation about your mortgage options complete our short enquiry form.

request call back

Please confirm your details

Extra information

The optional information below will help us to contact you

Buy to Let Mortgages