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Followed by Standard Variable Rate for the remainder of the mortgage, currently 4.74%
5.00% of the balance repaid until 31.01.20, then 3.00% until 31.01.23, then 1.00% until 31.01.28
You can repay up to 10% of the capital p.a. without an early repayment charge
Available NOW via Property Tribes Financial Services on 01206 654444.
This has to be good news this just shows what lenders think interest rates will be in coming years Low Indeed
Learn Change and Adapt ?????
That was my exact first thought.
Technically, the lenders do not have a view about future interest rates.
They go into the wholesale market and buy money. They then add a margin and sell it on. You are paying what the wider market things at this time. Mostly determined by bond rates with a similar duration.
Markets can be wrong. It is very hard to bet against the market. So, the market view on rates is what the masses are saying in some fashion.
I host the London Real Estate Meet on the 2nd Tuesday of every month. 11 years and running. If you have never been before, email me for the 'new visitor' link.
Also happy to chat on the phone. Pay It Forward; my way of giving back through sharing. Click on the link: PropertyFortress.com/Ask-John to book a time. I will call you at the time you selected. Nothing to buy. Just be prepared with your questions so we can use the 20 minutes wisely.
Is this available to Ltd companies at the same rate?
No - theu have not yet entered the LTD Company BTL market yet.
Your going to be paying about an extra 1.44% for a 10 Year Fix LTD Co at this time.
_________________________________________________________________________The above post is not financial advice, its often me rambling - passing time on a coffee break.If you are looking for the Best BTL Mortgage? Call the Specialist Team at Bespoke Finance._________________________________________________________________________
Would love it but wouldn't pass credit checking or PRA portfolio requirements
Yes they seem ok doing portfolio landlords up to 10 properties.
Though the 65% LTV accross the whole portfolio! does limit portfolio landlords.
Great to see it back after Woolwich pulled their 10yr fix. Fab news!
Just been emailed this exact same deal earlier from mortgages for business, it would appear that applications for btl mortgages are in decline to drive rates to such competitive rates for such an extended period.
Approaching the end of the year and lenders looking at business written compared with target for year.