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The best buy to let mortgage deals
Derin Clark

Derin Clark

Online Reporter
Published: 12/08/2020

With a volatile stock market and the temporary increase in the stamp duty threshold to £500,000, investing in property could be a more attractive option for investors looking to diversify their investment portfolio.

For those looking to expand their buy-to-let (BTL) portfolio or who are thinking about purchasing their first BTL property, we’ve rounded up some of the best* BTL mortgage deals currently available on the market.

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Mortgage rates start to rise as number of deals cut by over half

In just five months, the number of mortgage deals available to consumers has more than halved, falling from 5,222 on 1 March to just 2,526.

As well as this, data due to be released in the Moneyfacts UK Mortgage Trends Treasury Report shows that in the four weeks between 1 July and 1 August, 202 mortgage deals disappeared from the market. This is despite the housing market picking up after the spring lockdown and being boosted by the Government’s rise of the stamp duty threshold.

 

Total number of mortgage deals available
1 March 2020 5,222
1 July 2020 2,728
1 August 2020 2,526

 

“The introduction of the stamp duty holiday and record low average rates following an enforced period of shutdown for the market has seen demand for mortgages escalate in recent weeks,” Eleanor Williams, finance expert at Moneyfacts.co.uk, explained. “However, product choice and availability remains a key issue for mortgage borrowers, with this month continuing the downward trajectory we saw between June and July; there were 2,526 live products as of the 1 August, a fall of 202 compared to last month, and 2,696 less than the number of products on offer at the start of March, meaning there is 48% less choice available to consumers as the industry continues to feel the impact of the Coronavirus pandemic.”

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The best residential mortgage rates this week 07.08.20

Although the stamp duty threshold increased to £500,000 last month has made it a very attractive time to move home – as our story Is now a good time to move home? highlights – there are several factors homeowners should consider before moving. For those who are in the process of buying a new home, our story on How to fast track your mortgage application post-Covid-19 lockdown offers some tips on ensuring that the mortgage application goes through as quickly as possible.

Overall, mortgage rates have remained highly competitive this week and below we have highlighted the lowest rates available in the charts overall. While getting a low rate is important when considering a mortgage deal, borrowers should keep in mind that the lowest rate might not be the best deal overall and instead they should consider factors such as incentives, product fees and flexible features when choosing a product. Borrowers who need help in deciding which mortgage is right for them should consider speaking to a mortgage broker.

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Invest in property or a pension - which is best to boost your retirement?

The numbers of people searching for buy-to-let in the UK has seen an increase of more than 2.5 times from the end of March to mid-July, according to Google trends data. As the economic outlook for the Autumn continues to remain bleak and with the expectation of further job losses to come, those saving for retirement may be concerned about another stock market shock and reductions in value to their pensions and investments. Investing in property during difficult economic times is often seen as a safer option with the security of owning a physical asset.
With more people looking at buy-to-let to generate a return on their funds, we explore how investing in property compares to a pension and where to find the best buy-to-let mortgages.

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Is now a good time to move home?

A survey carried out by Nationwide in May found that the lockdown led to 15% of people considering moving home. Whether homeowners are looking for a new home as a result of lockdown or had already planned to move home this year, since lockdown restrictions began to be lifted, the property market has quickly begun moving again. This, coupled with the Government’s stamp duty threshold increase, means that many homeowners will be considering moving home over the coming months.

For those considering moving, we’ve looked at what currently makes it a good time to move home and some factors homeowners should be cautious about.

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Recent News

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How to fast track your mortgage application post Covid-19 lockdown

4th August 2020

The housing market is experiencing a mini-boom as a result of pent-up demand post-lockdown and the new stamp duty payment holiday. Rightmove reported a 75% increase of buyer enquiries in July 2020 compared to July 2019 and 44% of sellers that listed from 13 May 2020 have now been marked as sale agreed.

The housing market is experiencing a mini-boom as a result of pent-up demand post-lockdown and the new stamp duty payment holiday. Rightmove reported a 75% incr

Read More
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The best residential mortgages rates this week 31.07.20

31st July 2020

This week has seen several rate increases for mortgages, particularly at higher loan-to-values (LTV). Halifax, TSB, Skipton Building Society, Virgin Money and Nationwide Building Society all increased their rates during the week on 85% LTV mortgages.

This week has seen several rate increases for mortgages, particularly at higher loan-to-values (LTV). Halifax, TSB, Skipton Building Society, Virgin Money and N

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The lowest first-time buyer rates available today

29th July 2020

First-time buyers have faced a challenging mortgage market over the last few months. Between 1 March and 1 April, 1,193 deals available to first-time buyers were withdrawn from the market, seeing the number fall from 2,681 to 1,488

First-time buyers have faced a challenging mortgage market over the last few months. Between 1 March and 1 April, 1,193 deals available to first-time buyers were withdrawn from the market, seeing the number fall from 2,681 to 1,488

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The best residential mortgages rates this week 24.7.20

24th July 2020

The best mortgage rates available for those buying a new home, taking a remortgage or first-time buyers. All the best rates for 24 July 2020.

The best mortgage rates available for those buying a new home, taking a remortgage or first-time buyers. All the best rates for 24 July 2020.

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Most Popular Mortgage News

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How to fast track your mortgage application post Covid-19 lockdown

4th August 2020

The housing market is experiencing a mini-boom as a result of pent-up demand post-lockdown and the new stamp duty payment holiday. Rightmove reported a 75% increase of buyer enquiries in July 2020 compared to July 2019 and 44% of sellers that listed from 13 May 2020 have now been marked as sale agreed.

The housing market is experiencing a mini-boom as a result of pent-up demand post-lockdown and the new stamp duty payment holiday. Rightmove reported a 75% incr

Read More
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Invest in property or a pension - which is best to boost your retirement?

6th August 2020

The numbers of people searching for buy-to-let in the UK has seen an increase of more than 2.5 times from the end of March to mid-July, according to Google trends data.

The numbers of people searching for buy-to-let in the UK has seen an increase of more than 2.5 times from the end of March to mid-July, according to Google tren

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The best residential mortgage rates this week 07.08.20

7th August 2020

Although the stamp duty threshold increased to £500,000 last month has made it a very attractive time to move home – as our story Is now a good time to move home? highlights – there are several factors homeowners should consider before moving

Although the stamp duty threshold increased to £500,000 last month has made it a very attractive time to move home – as our story Is now a good time to move home? highlights – there are several factors homeowners should consider before moving

Read More
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First-time buyers see product choice fall by more than half in a month

13th July 2020

In the past month, first-time buyers with a 10% deposit or less will have seen the number of mortgage deals available to them fall by more than half

In the past month, first-time buyers with a 10% deposit or less will have seen the number of mortgage deals available to them fall by more than half

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