Published: 20/11/2019As we are approaching the end of the year, a number of UK lenders have dramatically cut their Buy to Let mortgage interest rates in order to meet their annual targets. There are currently rates as low as 1.35%* available, so now could be the best time to get yourself a Buy to Let mortgage if you were thinking of doing so.
Case Study of Re-Mortgaging to a New Fixed Rate Buy to Let Mortgage
By way of a basic example...
A £100,000 interest only mortgage...
On Birmingham Midshires standard variable rate of 5.09%...
Would cost in the region of £424 per calendar month (£5, 088 per annum).
This could be changed, however, through a Buy to Let re-mortgage with...
A free mortgage valuation and free basic legal services for a two year fixed rate of 1.35%*...
The monthly cost of this mortgage would be £112 per calendar month (£1,344 per annum).
In this basic example, the mortgage costs would reduce by £3,744 per year for a two year period, saving a total of £7,488 for a Buy to Let investor over two years.
If you would like to book a *no obligation Buy to Let mortgage review with Sowerbys partner financial services business, Broadland Consultants, please contact Sowerbys Lettings on 01362 693560 or via firstname.lastname@example.org.
What Broadland Consultants Offer
- Unbiased and unrestricted whole of market mortgage and insurance advice. This includes your existing lender.
- One easy meeting saving you time. Broadland Consultants complete the mortgage and insurance paperwork for you and manage the application(s) all the way through to a successful completion.
- A meeting at a time and location convenient for you. Meet at Broadland Consultants head office with free, easy parking, at any Sowerbys office, your home/workplace or do the whole thing over the phone – the choice is yours. Evening appointments are also available when required.
- An opportunity to save you money. Why speak to your own bank, which only has their own products? Broadland Consultants review the whole market to find you the best mortgage product.
* Mortgage products subject to lending booking fee, to understand more please request an illustration for your specific circumstances . Please note that the above information is correct as at 08/11/2019 * Initial mortgage basic review comes at our cost, should you proceed to a formal application a mortgage broker fee is payable *Mortgage rates are subject to status, and your specific personal/financial circumstances. Mortgage products are subject to change. You must maintain payments on debt secured against property or your property could be repossessed. Broadland Consultants Limited is an appointed representative of SANLAM PARTNERSHIPS LIMITED, 07182140, St Bartholomew's House, Lewins Mead, Bristol, England, BS1 2NH which is authorised and regulated by the Financial Conduct Authority. Registered No. 521208. Please note: the FCA does not regulate in relation to the sale and purchase of investment property.