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Mortgages

In order to be a successful residential landlord, a certain degree of business acumen is essential. So of course you will be acutely aware of your incomings and outgoings.

It is highly likely that you used a specialist mortgage broker or independent adviser in order to arrange your existing buy-to-let mortgage or mortgages, as such deals have very rarely been available direct to the public. And when you are making a sizeable investment, such as putting your money into property, it makes perfect sense to take professional advice. Indeed, there is currently some movement towards putting investors back onto the sort of commercial loan terms they used to borrow on before buy-to-let really took off. As such, professional advice is key.

Currently, many buy-to-let mortgage borrowers, including Bradford & Bingley, Mortgage Express and NRAM customers, have come to the end of special fixed rate, discounted or tracker mortgage deals. Thanks to the Bank of England cutting interest rates to an historic low in order to help mitigate the impact of the credit crunch, many landlords have in recent years found themselves in the unique position of simply sitting on their lender’s standard variable rate (SVR) as it has been the lowest rate available. That is also a function of the decrease in availability of buy-to-let mortgage products after 2008.

However, with increased credit supply increasing, new lenders coming to market and competition raging fiercely in the buy-to-let sector all that has changed, and canny property investors may well be in the market for a low fixed rate deal, for example.

As a state-owned lender, Bradford & Bingley, Mortgage Express and NRAM are no longer offering new buy-to-let products. But they do want to make sure that, as an existing customer you are doing everything you can to make a success of your investment. That is why they suggest you click on the following link to see the full range of buy-to-let deals currently available from other lenders.

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