Buy-to-let has really taken off in recent years.
Legislation has been relaxed and steadily mortgage lenders have become more willing to provide finance. In fact as of Q3 2014 it accounted for 14% of all mortgage lending*.
Regular readers of my blog will know that not only am I a BIG FAN of buy-to-let (done properly it’s a great investment) but I’m also a BIG FAN of reviewing your mortgage rates regularly.
And here, the two things collide! Because now is the time to review your mortgage if you have (or would like) a buy-to-let.
For a long time mortgage rates of buy-to-lets were much more expensive than a standard mortgage but they are now getting competitive. And landlords can find themselves some cracking deals.
Most Buy to Let mortgages are unregulated which means interest only mortgages on Buy to Let’s are easily available.
Borrowing a £100,000 could cost less than £200 per month.
As always, I’d recommend you get some advice before diving in, but if you’re looking for an investment vehicle then things have just got a whole lot more attractive in the buy-to-let market.
*statistic from the council of mortgage lenders