{"id":19987,"date":"2018-08-10T09:45:20","date_gmt":"2018-08-10T08:45:20","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=19987"},"modified":"2018-08-10T09:45:20","modified_gmt":"2018-08-10T08:45:20","slug":"landlords-encouraged-to-re-evaluate-mortgage-position-now","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-au\/news\/landlords-encouraged-to-re-evaluate-mortgage-position-now\/","title":{"rendered":"Landlords encouraged to re-evaluate mortgage position now"},"content":{"rendered":"

Following the Bank of England\u2019s decision to raise interest rates, landlords are being urged to re-evaluate their mortgage situation to avoid further pressure on their finances.<\/strong><\/p>\n

Landlords looking to purchase or remortgage<\/a> could benefit from a variety of new products and criteria changes launched over the past month.<\/p>\n

Vulnerable landlords sitting on their lender’s standard variable rate are subject to the recent base rate rise<\/a> further eroding the profitability of their property investment<\/a>. Research conducted by property management firm DJ Alexander Ltd has discovered that one in three landlords are already paying too much for their mortgage. Fortunately, the buy-to-let<\/a> market has had a refresh over the past few weeks with several rate reductions and new product launches.<\/p>\n

Reduced fixed rates<\/h4>\n

Vida Homeloans has made cuts to several of its five-year fixed rate deals for houses in multiple occupation<\/a> (HMOs), multi-unit blocks, loans above \u00a31m and first-time buyer landlords<\/a>.<\/p>\n

Accord has also reduced its rates by up to 0.16% and introduced new five-year deals at 65% and 75% loan to value (LTV), and BM Solutions has reduced rates on both its buy-to-let and let-to-buy<\/a> products by 0.05% on up to 75% LTV two-year fixes.<\/p>\n

New rates available through Buy to Let Club<\/h4>\n

LendInvest has launched a new five-year fixed rate deal through the Buy to Let Club, fixed at 2.75%, available on up to 75% LTV with a product fee of 4.99%. Available for purchases and remortgages on both standard properties and HMOs, the maximum loan value is \u00a3500,000.<\/p>\n

Two new fixed-rate buy-to-let products have been launched by Precise Mortgages available exclusively through Buy to Let Club, for both purchases and remortgages. A five-year fixed at 3.45% is offered at 75% LTV with a fee of 1.5%, plus a two-year fixed rate at 2.29% at 75% LTV with a fee of 2.5% \u2013 both available on a maximum loan of \u00a33m.\u00a0 Accessible to personal and limited company<\/a> applications, Precise Mortgages is an attractive proposition for landlords looking to mitigate tax relief changes<\/a>.<\/p>\n

Expats benefit from criteria changes<\/h4>\n

Saffron Building Society has refreshed its range of expat<\/a> mortgages with a new 55% LTV band and an increased maximum LTV of 75%. For buy-to-let customers living outside the UK<\/a>, Saffron now has no restriction on countries with regulated buy-to-let accepted from non-EEA countries. Its buy-to-let range is available to first-time buyers,<\/a> and no UK mortgage history or minimum income is required.<\/p>\n

Landlords still on their lender’s SVR are being encouraged to use the base rate increase as a catalyst to sort out their mortgage affairs \u2013 monitoring their mortgage costs<\/a> and changing lenders or rates where possible to maximise the profitability of their investments.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following the Bank of England\u2019s decision to raise interest rates, landlords are being urged to re-evaluate their mortgage situation to avoid further pressure on their finances. Landlords looking to purchase or remortgage could benefit from a variety of new products and criteria changes launched over the past month. Vulnerable landlords sitting on their lender’s standard… Read more »<\/a><\/p>\n","protected":false},"author":3380,"featured_media":17350,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[2,26,59],"tags":[15,25,341],"class_list":["post-19987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buy-to-let-landlords","category-tax-mortgages-money","category-trending-news","tag-landlords","tag-mortgages","tag-newsletter"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/19987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/users\/3380"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/comments?post=19987"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/posts\/19987\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media\/17350"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/media?parent=19987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/categories?post=19987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-au\/wp-json\/wp\/v2\/tags?post=19987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}