In 2017 rates on buy-to-let mortgages have hit a historic low and are now comparable to residential mortgages. But, going fixed rate is advisable as, in uncertain times, there is a lot to be said for paying more for some certainty.
Property Expert Series: Richard Ignatowicz From Mortgage Savers
- Part 1: Introducing Richard Ignatowicz From Mortgage Savers
- Part 2: An Introduction To Specialist Mortgages for Property Investors
- Part 3: What Is Section 24 And What Does It Mean For Buy-To-Let?
- Part 4: Do Landlords Need To Set Up A Buy To Let Limited Company?
- Part 5: What Is A Special Purpose Vehicle (SPV)?
- Part 6: How Should Landlords Go About Finding The Best Buy To Let Mortgage?
- Part 7: What Kind Of Property Deals Should Investors Be Looking At?
- Part 8: What Does The Mortgage Market Look Like In 2017?
Buy-To-Let Mortgages In 2017
Amy: So, can you tell me, Richard, about any kind of special products that are out in the marketplace at the moment? Is there anything unusual and what are the rate's like? Can you give us an overview of mortgages today?
Richard: Rates are at historical lows at the moment. So, I'm recommending that anybody all buy-to-let landlord have a review with their broker or financial adviser.
You can get buy-to-let rates at under 2 percent. This is similar to residential domestic mortgages and is very unusual.
Also, with the uncertainties coming along in the future, landlords should potentially consider longer-term fixed-rate mortgages, say five years.
The rates on these products are more expensive but it buys you some certainty in these uncertain times.
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