{"id":6030147,"date":"2020-03-06T13:15:18","date_gmt":"2020-03-06T13:15:18","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=6030147"},"modified":"2020-03-06T13:15:18","modified_gmt":"2020-03-06T13:15:18","slug":"lenders-refresh-buy-to-let-mortgage-ranges-as-cost-of-borrowing-falls","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/zh-hk\/2020\/03\/06\/lenders-refresh-buy-to-let-mortgage-ranges-as-cost-of-borrowing-falls\/","title":{"rendered":"Lenders refresh buy-to-let mortgage ranges as cost of borrowing falls"},"content":{"rendered":"

New research from Property Master has found that the cost of buy-to-let mortgages has fallen year on year.<\/strong><\/p>\n

Lenders are continuing their support for individual and limited company<\/a> landlords in anticipation of a busy few months ahead.<\/p>\n

According to Property Master, five-year fixed rate buy-to-let mortgages<\/a>\u00a0for 65% loan-to-value (LTV) saw costs fall the most. Borrowers now save \u00a348 per month on a \u00a3150,000 mortgage compared to 12 months ago.<\/p>\n

Two-year fixed rates fell more modestly. The cost of a typical mortgage for \u00a3150,000 for 75% of the value of the property was down \u00a325 per month year-on-year. The cost of a 65% LTV product fell by \u00a319 per month.<\/p>\n

The falling costs of buy-to-let mortgages are likely to continue. Lenders are reviewing<\/a> and refreshing their buy-to-let ranges to support landlords keen to remain in the market but conscious of their squeezed profit margins<\/a>.<\/p>\n

Landbay reduces minimum income<\/h4>\n

Landlords can now access Landbay\u2019s<\/a> buy-to-let ranges with a minimum income of \u00a315,000. The minimum property value is \u00a375,000 for standard properties and HMOs<\/a> in qualifying areas.<\/p>\n

The lender has also reduced the minimum loan amount by \u00a320,000 to \u00a330,000. Further to this, the maximum standard property loan has increased to \u00a32 million for up to 75% LTV mortgages.<\/p>\n

Plus, landlords looking for an 80% LTV can benefit from their standard five-year rate available from 3.89%.<\/p>\n

Paul Brett, managing director of intermediaries at Landbay, said: \u201cAs part of our product refresh, we\u2019re especially pleased with the changes to the 80% LTV products.”<\/p><\/blockquote>\n

“These changes are part of our strategy to extend our product offering to an even wider range of borrowers, helping our partners support more landlords across the country.\u201d<\/p>\n

Support for limited company landlords<\/h4>\n

The Nottingham for Intermediaries has unveiled a new buy-to-let offer to support landlords restructuring to limited companies. Two-year fixes are now available at 2.76% with a \u00a3999 fee and at 2.79% with a 0.50% fee at 75% LTV.<\/p>\n

Nikki Warren-Dean, head of intermediary sales at The Nottingham, said: \u201cJudging from the conversations we\u2019ve been having with our broker network, many landlords are considering structuring their portfolios<\/a> on a limited company basis, if they haven\u2019t already.”<\/p>\n

She added that it is important to offer competitively priced products to suit landlords’ needs.<\/p>\n

TSB offers landlords mortgage security<\/h4>\n

Another lender that is offering a refreshed BTL range is TSB. It has introduced its first 10-year fixed rate buy-to-let mortgage products, giving landlords the option of long-term security. For up to 60% LTV, borrowers can get a rate starting from 2.44%. With a 60-75% LTV, landlords can borrow for 3.19% upwards with a range of fee options.<\/p>\n

With interest rates currently very low, especially for buy-to-let landlords, some will want the added reassurance of a long-term rate.<\/p>\n

TSB has also reduced its rates for three and five-year fixed rate BTL products by up to 0.25%.<\/p>\n

Beverley Bradford, TSB\u2019s head of intermediary mortgages, said:\u00a0\u201cThese changes, as well as the introduction of our new 10-year fixed buy-to-let mortgages, should go some way to offering peace of mind to those looking to fix their monthly payments for any length of time that suit their lifestyle.\u201d<\/p>\n

Lenders anticipate a busy April<\/h4>\n

Angus Stewart, chief executive of Property Master, said the company expects a busy few months.<\/p>\n

“This April it will be four years since significant changes were made to stamp duty<\/a>. The decision by the then government to slap on a 3% surcharge on buy-to-let properties led to a mini-boom as landlords rushed to buy properties to beat the deadline.”<\/p><\/blockquote>\n

“We suspect many of those landlords will be coming to the end of fixed-rate mortgages around now. They should be pleasantly surprised at what the market is prepared to offer them in terms of a good deal.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

New research from Property Master has found that the cost of buy-to-let mortgages has fallen year on year. Lenders are continuing their support for individual and limited company landlords in anticipation of a busy few months ahead. According to Property Master, five-year fixed rate buy-to-let mortgages\u00a0for 65% loan-to-value (LTV) saw costs fall the most. Borrowers… Read more »<\/a><\/p>\n","protected":false},"author":3380,"featured_media":15900,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[412,108],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/posts\/6030147"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/users\/3380"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/comments?post=6030147"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/posts\/6030147\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/media\/15900"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/media?parent=6030147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/categories?post=6030147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/zh-hk\/wp-json\/wp\/v2\/tags?post=6030147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}