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Secure Larger Buy-To-Let Loans At Competitive Rates – This Sector Is Growing.

The number of sub 1% interest rate mortgages is falling, according to data from Moneyfacts. Nottingham Building society hiked rates on some of its mortgages by just over 1 percentage point. The Co-operative banks mortgage division Platform used to charge a record low .79% and now charges 1.08 as standard. Buy to let loans are still viable but it depends on the consumer being aware of the options out there.

Barclays increased their three-year fixed-rate mortgage offering from 0.99pc to 1.1pc with the two-year fixed offer increasing from 0.86pc to 0.91pc. NatWest and HSBC have followed with increases but still straddling the 1% area. While offers are still reasonably low, there are signs that it will not remain this way.

Meanwhile Landbay, who have the broadest range of buy to let loans, list their rates as follows:

The Standard Property is offered with 75% LTV for up to £1.5m at 3.24%.

The New Build Standard Property is offered at 65% LTV for Up to £1.5m at 3.24%. Then,

New Build Standard Property – 75% LTV – Up to £1m at 3.34%

Small HMO & MUFB – 75% LTV – Up to £1.5m at 3.59 %

New Build Small HMO & MUFB – 75% LTV – Up to £1m at 3.69%

Small Portfolio Landlord Standard Property – 75% LTV – Up to £1.5m at 3.14%

Professional landlords with growing portfolios wanting to invest in larger properties that need to take out larger loans to do so, according to Paul Brett, Landbay’s managing director. “There has also been an increase in trading limited companies investing in HMO and MUFBs. This type of accommodation attracts higher yields for landlords and even if there are vacancies within the property there is always income from the other tenants.”

These options are appealing to upsizing landlords that use Reddbox’s services so we throught we’d drop them here for you to consider. Do bear in mind we do not offer any kind of financial advice beyond presenting the options available in the market at the moment.

Our offer: Download the app and start saving time managing your properties. Follow the screens to provide your details, and that’s it. Some of the key features why you should consider Reddbox are  –

  • A completely app-based, super simple service booking process.
  • Options to pay for the service over a few months without any additional interest or fee. See our rates here. Be quick, we are running promotional rates at the moment. 
  • You can book the service seven days a week, which means no need to disrupt your busy day.
  • A very transparent cancellation and refund policy. 
  • And the best one – Reddbox will automatically organise all the relevant documents such as invoices and certificates.