As a landlord you will know doubt know an interest rate rise is on the horizon, in fact a lot of good deals have already disappeared. The good news is there are still plenty of good sound offers to be had in the buy-to-let mortgage market. The majority of providers still have very attractive mid and long term fixed rates but these are getting fewer and fewer by the day. One very important factor to take into account when you are considering changing your mortgage to a fixed deal are the charges involved. A fixed deal may have a very attractive interest rate but could have large fees associated with it and thus making it very unattractive. Always seek advice from a professional adviser as they will be fully aware of the good deals on offer to suit your needs. Fixing the rate or gamble? Fixed rate mortgages are now very popular as clients fear rate rises are on the way and are now proving to be better value than a tracker deal. The low loan-to-value mortgages in particular are proving to be much more suitable and cost effective than the tracker equivalent at 2-3 and 5 year periods. Even for fixed rate higher loan-to-value deals the current cost of borrowing is only slightly higher than a tracker deal. Fixed deals in this climate are without doubt providing more long term security especially with the investor with multiple properties. The biggest advantage a fixed deal offers is you will always know within the term of the mortgage what your outgoings are going to be. This helps tremendously when setting rent income levels and gives people a great deal of peace of mind. Can we assist? Due to the vast range of mortgages on offer it is very important to get expert advice so please call one of our adviser and we will be happy to help.
