Best Buy to Let Mortgage Rates
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Fair Mortgages can provide you with a first class service if you are looking for the best buy to let mortgage rates in the UK market.
To use our service you can:
- Contact the lender direct on the free phone numbers provided
- If you need independent advice, call us
Special features of what our advice service offers include:
- Whole of market broker - we deal with most UK buy to let lenders
- Rates - Access to leading buy to let market rates
- Exclusives - Access to exclusive buy to let mortgage deals not available on the high street
- Our BTL expertise - Expert help whether you are a first time investor or experienced full time landlord
- Credit issues? - We have lenders who will take into account previous defaults and missed payments
- Experienced BTL investor? - Have a complex buy to let or have a portfolio of 5+ properties? - speak to us
To investigate your buy to let mortgage options, call our specialist team or fill in our call back form.
Buy to let mortgage tax rule changes
It is more important than ever to get the best available rates on a buy to let mortgage. This is because, from 2017, landlords can no longer deduct the finance expenses from their buy to let properties when calculating their profit from the financial year. These new rules do not affect limited companies. As a result, more private landlords are setting up limited companies. However, there are some associated costs that come with setting up a limited company that should be considered.
From 2017, further changes to how buy to let mortgages are regulated will be implemented that will make it harder for those looking to secure finance for buy to let properties.
A stricter stress test: Lenders will now implement a stricter stress test. Landlords will now have to illustrate that they can make mortgage repayments even in the event that the interest rate increases to 5.5%.
A higher rental coverage ratio: Landlords will now need a rental coverage ratio of 145% for a standard buy to let property and 170% for a house in multiple occupation, as opposed to the previous rental coverage ratio of 125%.
A review of the entire portfolio: Lenders will review the landlord’s entire portfolio to ensure that all of their properties are profitable. If a landlord has multiple buy to let properties and only a few are profitable, a lender may be reluctant to provide a buy to let mortgage.
Compare the best rates buy to let mortgage rates
If you require a buy to let mortgage, it is advisable to contact a specialist property finance broker.
To find out if Fair Mortgages could help you, you can fill in our online contact form or call us direct.