Many Buy to Let Mortgage Landlords are continuing to benefit from ongoing mortgage costs as lenders are seen to be offering great deals for those with properties in need of a remortgage.
Lenders are competitively trying to attract new business from existing landlords by way of cutting their interest rates of buy to let mortgages.
Market analysis shows that the costs of buy to let mortgages have fallen by 8% in the last 6 months and that the cost of a typical five-year fixed buy-to-let loan with a LTV of 70% is 8% less than in March 2016 and the average rate is now 2.8%.
With many expecting a further cut in interest rates later in the year, the amount of fantastic buy-to-let and residential mortgage on offers is sure to entice those both already on the property ladder as well as those who are wanting to make their first step of owning their own home.
There has also been a reduction in the amount of mortgage approvals of late as well as the amount of high value lending being reduced for first time buyers. This is not to say that there aren’t plenty of great offers still available throughout the mortgage market but we’re certain here at My Finance Friend we can certainly help you attain the best deals.
We are mortgage specialists. We service clients from all around the UK providing tailored mortgage advice in a clear and friendly way – nothing is too much trouble. We offer advice across the whole of the market so you can be sure you’re getting the best deal. Get in touch and see how we can help you! Our initial consultations are always free!!!