Many fixed mortgage deals will be approaching the end of their term this October, so it’s a good idea to review your buy-to-let mortgage.
With interest rates still at low levels and demand for rental properties increasing around the country, investing in a buy-to-let (BTL) is a popular choice for many.
A BTL mortgage is a specific type of product for those who want to buy a property with the intention of renting it. Because of this, there are different terms and rules around a BTL mortgage (compared to a regular mortgage for a property the buyer intends to live in.)
Interest rates for BTL mortgages are usually higher than a regular mortgage.
If you have a BTL mortgage already and its fixed interest rate term is coming to an end, you may be thinking about switching products or providers to gain a better deal.
Here are some other things to look out for:
If you are looking to remortgage your BTL property or are thinking about transferring your mortgage to a different provider, our Edward Mellor Financial Advisers can help you find a product that best suits you. For a no-obligation confidential conversation complete our contact form and we will be in touch shortly.
Some buy-to-let mortgages are/is not regulated by the Financial Conduct Authority.