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Top 5 fixed-rate buy-to-let mortgages

Top 5 fixed-rate buy-to-let mortgages

Category: Buy To Let

Updated: 13/11/2017
First Published: 21/05/2013

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The buy-to-let mortgage sector has experienced something of a comeback over the past couple of years, mainly as a result of exceptionally high demand within the rental property market.

A growing number of homeowners, who are unable to move, have chosen to rent out properties instead, becoming so-called 'accidental landlords'. It is thought that around 30% of all property landlords fall into this bracket.

Mortgage lenders have reacted to the situation by increasing their buy-to-let product ranges, with a total of 484 buy-to-let mortgages available at present, compared with just 302 in 2010.

Top 5 fixed-rate BTL mortgages, split by loan-to-value (LTV):

60% LTV

Hinckley & Rugby BS
Hinckley & Rugby
Building Society

3.24% fixed for two years
  • Maximum loan-to-value 60%
  • £1,249 fee
  • Advances between £50,000 and £300,000
  • Option to make overpayments

Penny saysPenny says…
"Leading the way in the 60% LTV buy-to-let market is this deal, available directly or via intermediaries by post.

"The arrangement fee is split into two parts, with the lower sum of £250 required upfront. The additional £999 can either be paid upfront or can be added to the mortgage advance."

65% LTV

Coventry Building Society
Building Society

3.49% variable for term
  • Maximum loan-to-value 65%
  • £999 fee
  • Minimum advance of £25,000
  • Incentives of free valuation for all borrowers and free legal fees for those remortgaging
  • Option to make overpayments or take payment holidays

Penny saysPenny says…
"This variable deal from Coventry Building Society offers an appealing mortgage package to investors.

"Available to both purchase and remortgage borrowers, this deal offers a competitive rate, generous incentives and flexible payment features."

70% LTV

Mansfield Building Society
Building Society

3.49% discounted variable for three years (2.10% discount)
  • Maximum loan-to-value 70%
  • £999 fee
  • Minimum advance £50,000
  • Option to make overpayments up to 10% of outstanding balance each year

Penny saysPenny says…
"Sitting in bronze position is this competitive variable rate deal, available either directly or via intermediaries.

"As well as offering a best buy rate of 3.49%, borrowers also have the flexibility to make overpayments of up to 10% of the outstanding mortgage amount."

75% LTV

Furness BS
Building Society

3.50% discounted variable for three years (1.94% discount)
  • Maximum loan-to-value 75%
  • £990 arrangement fee
  • Minimum advance £50,000
  • Incentives of free valuation and £150 rebate. Those remortgaging in England and Wales are also offered free legal fees

Penny saysPenny says…
"This deal offers a competitive variable rate to investors looking to borrow up to 25% of the property value.

"Up to 10% of the outstanding balance can be overpaid each year, whilst remortgage customers will also receive a range of generous incentives."

80% LTV

Saffron BS
Building Society

4.47% fixed to 31.5.16
  • Maximum loan-to-value 80%
  • 2.00% of mortgage advance fee
  • Minimum advance £30,000
  • Option to make overpayments

Penny saysPenny says…
"Available directly or via selected intermediaries online to purchase and remortgage investors with deposits of 20% and over, is this competitive fixed-rate deal.

"Investors can either pay the arrangement fee upfront or add the amount to their mortgage advance.

Information & Rates correct as at: 21/05/2013

What next?

Speak to a BTL mortgage adviser
Compare BTL mortgages for new landlords
Buy to let guides

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.