Our research team have scoured the market and picked a couple of buy to let best buy rates that stand out from the crowd. We’ve looked for products that offer a good balance between rate and fees and considered lenders likely to have good service and underwriting processes. Remember it’s important to consider the total cost including fees not just the pay rate when comparing your buy to let mortgage rates. This table is highlights from the market not advice – for a full analysis of your requirements and a product that’s right for you simply fill in our short form below.
Latest Buy to Let Best Buys
|3.24||2 Year Tracker||1240||60%|
|4.19||2 Year Tracker||0 and 500 cashback||60%|
|3.59||2 Year Tracker||1240||70%|
|3.99||2 Year Discount||0||60%|
What is a Buy to Let Mortgage Best Buy?
I’ll start by saying that the main thing that makes a best buy isn’t that a product appears at the top of a table or that it appears to have the best rate (despite that enormous fee that might be added to the loan but you’ll pay with interest one day when you sell up!). A best buy is the product out there that not only works out the best value for you but meets your requirements for flexibility, property type and future plans in the best way possible.
Factors To Consider
Having said that it would be wise to understand the factors to consider carefully when weighing up a product. This will enable you to receive advice as an informed professional landlord and make the right decisions for your future.
- How long the product lasts for (consider any tie ins, penalties and flexible features).
- Consider flexibility – is this a buy to let where you can make overpayments?
- Make sure you don’t pay more in fees than you save in interest! (This might seem obvious but some lenders have some amazingly appealing payrates and putting the fee off to the future might be appealing in a growing housing market but at present with prices stagnant this may be a worse idea).
- Consider the flexibility of your finances, the interest rate climate and the difference in rates carefully when choosing between a fixed and variable rate