Best Buy To Let Mortgages UK
Finding The Best Buy To Let Mortgages UK Lenders Have To Offer
When it comes to finding the best buy to let mortgages UK lenders provide, you don't have far to look. In August 2008 we prepared a list of what we believe are the best buy to let mortgages UK providers have available. It is worth noting that this list can change quickly, as old deals are withdrawn and new deals posted almost daily. This means that this roundup of the best buy to let mortgages UK banks and building societies offer is just a guide. When you are ready for a BTL mortgage, check for up to date deals or ask a professional BTL mortgage broker to help you find the best buy to let mortgages UK providers offer based on your circumstances.
To start our list of the best buy to let mortgages UK we will focus on a straightforward 75% loan to value purchase with good rental income. There are over 140 products available from over 20 different lenders.
Birmingham Midshires is always a lender that is worthy of consideration. They are offering a competitive deals on both fixed and tracker rates with rental coverage of 125% of the pay rate. Their mortgages are available up to 85 per cent loan to value and the lender is currently processing mortgage applications in very good time – Different deals are available subject to the loan to value. Capital raising for Business does not include business start-ups and Remortgage applications are not accepted where the customer has owned the property for less than 6 months.
The second deal on the list of the best buy to let mortgages UK is from Bank of Scotland who are also offering a variety of different deals at different rates. Their deals are also available up to 85% loan to value and you are will generally be locked in with penalties until the end of the fixed rate or tracker rate period. Bank of Scotland mortgages are always calculated on the rental calculation which currently stands at 125% of the mortgage costs.
The Mortgage Works
Another institution on the list of the best buy to let mortgages UK providers have on offer is from The Mortgage Works – Part of the Nationwide stable of lenders. They are offering very competitive rates over varying terms although currently some of their arrangement fees can be a bit on the steep side. This lender offers flexibility on individual landlords and will even lend to you if you structure your portfolio in the name of a Limited company. This entry in our list of the best buy to let mortgages UK lenders offer is available up to 75 per cent loan to value although there are even better rates available at lower loan to values. Lending criteria includes lending on Ex-council properties – if in a building not exceeding 5 storeys
Bank of Ireland also can be seen within the best buy table and depending on the product chosen will offer a rental calculation at either 100% or at 118% of the mortgage pay rate. The deals they offer are only for applicants who will have a total of 5 or less Buy-to-Let properties with Bank of Ireland Mortgages – if you have more then 5 properties with this lender they may not offer you the same products. Their current range is limited although Bristol & West (who is owned by Bank Of Ireland mortgages) are also showing their own range of deals to compliment the availability of deals from the group.
Finally, Woolwich has various deals in our roundup of the best buy to let mortgages UK mortgage lenders offer to BTL landlords. The products are not CAT standard and although some of their products at first glance seem extremely competitive you will find on closer inspection that Woolwich will offer different deals to an individual customer then those offered to a portfolio client. If you happen to be a portfolio client looking to switch lenders then the Woolwich with their low set up fees and low arrangement fees will generally be one of the first port of calls for a quality mortgage broker. This completes our round up of the best buy to let mortgages UK lenders offer.
