Chip

Anyone recently renewed their BTL mortgage. Just wondering what rates and deals were at the mo.

Chip

skid11

iTrader: (1)

Tried to change mine last month but no deals available so on Nat Wests standard variable rate for buy to lets of nearly 6%. This was the same as my fixed rate. The only fixed rate was higher and had an arrangement fee . They just dont want to lend at all. Any cheaper rates had ridiculous arrangment fees £2000!!! was quoted

hodgy0_2

my btl still has a few years at 5.2%

but my domestic mortgage was up for renewal -- my broker said to get the best deal you really need at least 20% equity

Timwinner

iTrader: (3)

We are looking to let out to council tenants now, You can get good returns and we have used a long contract as leverage for a better deal.

Lloyds have a 4.99 have a look here
Exclusive Mortgage Deals - Best Mortgage Rates & Lenders - Charcol

skid11

iTrader: (1)

My domestic ones up as well .Couldnt get cheaper than 4.69 for that either and a £1000 fee . Thats the same as i pay now. Unless anyone knows any different?

Timwinner

iTrader: (3)

I hear around Feb time might be a good time to re-mortgage, I am gearing up for then.
The word is.... lenders are going to have there arm forced a bit more with regards to passing on lower rates. That coupled with a possible further cut it should look a bit more attractive in about 8 weeks or so.

That is speculation, but its from a good source who has given me great advice in the past.

skid11

iTrader: (1)

I will wait till then. Not that i have much choice as im not getting any decent deals offered.
Thanks though