We get asked this question nearly every time we assist a landlord with their buy to let mortgage so with this in mind we have created some mortgage cost examples for you to make this decision yourself.

The figures below relate to a property valuation of £250,000 on an interest only basis. Assumptions have been made to assume that each applicant fits the lenders criteria on items such as minimum income level etc. We would of course, at the time of your enquiry check your criteria against that of the lenders to ensure the buy to let mortgage deal we quote for you is the right one to match your circumstances.

The rates below were all good at time of publication (18th June 2012) and were sourced form a whole of market panel of lenders which did include some exclusive deals.

 

The Fixed Rate Options:

2 Year Fixed Rate @ 75%

  • 2 year fixed rate of 4.34%
  • The above rate reverts to the lenders SVR, currently 5.99%
  • £678 per month
  • £195 Lender booking fee – payable at application
  • £350 Lender valuation fee – payable at application
  • £1406 Lender arrangement fee – can be added to the mortgage

2 Year Fixed Rate @ 70%

  • 2 year fixed rate of 4.15%
  • The above rate reverts to the lenders SVR, currently 4.79%
  • £605 per month
  • £99 Lender booking fee – payable at application
  • £214 Lender valuation fee – payable at application
  • £1995 Lender arrangement fee – can be added to the mortgage

2 Year Fixed Rate @ 65%

  • 2 year fixed rate of 3.99%
  • The above rate reverts to the lenders SVR, currently 4.74%
  • £540 per month
  • £250 Lender booking fee – payable at application
  • FREE Lender valuation fee
  • £749 Lender arrangement fee – can be added to the mortgage

 

The Tracker / Variable Rate Options:

2 Year Tracker Rate @ 75%

  • 2 year tracker rate of 3.59% plus the bank base rate (currently 0.5%)
  • The above rate reverts to the lenders SVR, currently 5.99%
  • £639 per month
  • £95 Lender booking fee – payable at application
  • FREE Lender valuation fee
  • £1300 Lender arrangement fee – can be added to the mortgage

2 Year Discounted Variable Rate @ 70%

  • 2 year discounted variable rate of 3.74%
  • The above rate reverts to the lenders SVR, currently 5.95%
  • £545 per month
  • £275 Lender booking fee – payable at application
  • £300 Lender valuation fee – payable at application
  • £899 Lender arrangement fee – can be added to the mortgage

2 Year Tracker Rate @ 65%

  • 2 year tracker rate of 3.30% plus the bank base rate (currently 0.5%)
  • The above rate reverts to the lenders SVR, currently 4.74%
  • £514 per month
  • £250 Lender booking fee – payable at application
  • FREE Lender valuation fee
  • £999 Lender arrangement fee – can be added to the mortgage

2 Year Tracker Rate @ 60%

  • 2 year tracker rate of 2.69% plus the bank base rate (currently 0.5%)
  • The above rate reverts to the lenders SVR, currently 4.24%
  • £399 per month
  • £330 Lender valuation fee  – payable at application
  • £3750 Lender arrangement fee – can be added to the mortgage

Contact our team to discuss your mortgage requirements or fill in our online mortgage enquiry form today and we will be in contact with you.

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