Competition in buy to let mortgage market is welcome news for investors

15 April 2012 Categories: News

Competition in buy to let mortgage market is welcome news for investors

It seems buy to let mortgage lenders have finally woken up to the potential of the market with a wide range of new, competitive mortgage products being launched during the last quarter. The various mortgage deals generally come with better LTVs, lower interest rates and more options with regards to fees.

Among the best deals launched so far this month are the following:

Skipton Building Society has increased its maximum LTV up to 75% with a range of 2, 3, and 5 year fixed rate products that offer a choice of rate/fee combinations.

Coventry Building Society has launched a comprehensive range of fixed and base rate tracker mortgages that come with a variety of fee options. Rates start as low as 3.99% on a 5 year fixed rate deal with up to 65% LTV.

The Mortgage Works have not only launched a variety of new mortgage products, they’ve also reduced the rates on their existing deals by 0.6%. Probably the best deal they offer at present is their 2 year tracker with a rate of 3.99%, a fee of 3.5% and a maximum LTV of 75%.

TBMC, working in conjunction with Kent Alliance, has launched one of the first buy to let mortgage products with 80% LTV. The 2 year discount rate of 4.79% and flat product fee of £2999 makes this deal very competitive in today’s market.