Our best buy-to-let mortgage deals
Discover some of our best buy-to-let deals
Current buy-to-let deals
The following buy-to-let deals are based on securing a mortgage of £181,600 on a £227,000 property (that's 80% loan-to-value) over a 25 year term.
We’ve searched for the most competitive deals according to true-cost. This includes capital and interest repayments, fees, and incentives due over the initial period of the deal, and is a more effective way of comparing deals than looking for the lowest interest rate deal.
2 year fixed deal
True cost over initial period
Based on securing a mortgage of £181,600 over a 25 year term. Inlcudes a £2,689 upfront fee, 2.99% initial rate reverts to 5.60% SVR after initial 25 month period, costing £1,105.79 per month for 275 months. Total amount payable is £328,481.75 including interest and fees. That's a 5.40% APRC. True cost based on a 24 month period. This deal was last updated on 1st March 2019.
5 year fixed deal
True cost over initial period
Based on securing a mortgage of £181,600 over a 25 year term. Includes a £2,689 upfront fee. 3.39% initial rate everts to 5.60% SVR after initial 61 month period, costing £1,084.26 per month for 239 months. Total amount payable is £316,827.59 including interest and fees. That's a 4.90% APRC. True cost based on a 60 month period. This deal was last updated on 1st March 2019.
Frequently asked questions (FAQs)
What are buy-to-let mortgage rates like?
Buy-to-let mortgages are available from most major banks and building societies, and rates can vary.
Many people think of buy-to-let mortgages as being cheaper than a regular mortgage, but this is because they are mostly interest-only mortgages, which makes monthly repayments cheaper.
You must remember that you’re only repaying the interest. This means that when the mortgage matures, usually in around 25 years, you’ll need to repay the capital, generally by selling the property, which will hopefully have increased in value.
Keep in mind that buy-to-let mortgages are not actually cheaper in terms of interest. In fact, they’re more expensive as lenders tend to view tenants as a higher risk option than owner-occupiers.
As with a regular mortgage, you’ll often get a low-interest (and usually fixed) rate for the first term of your mortgage, followed by a higher rate (which is usually variable) after that.
Are there risks involved in buy-to-let mortgages?
Buy-to-let mortgages definitely come with risks. Once you’re on a variable rate, the cost of the mortgage can increase. Plus, you’ll be responsible for all basic maintenance and repairs on your property, meaning you can actually start to make a loss.
If you lose your tenants, or they default on the rent, you’ll start making that potential loss very quickly. A rental property standing empty, even for a short period, means your expenses continue but your income stops.
Getting the right tenants is vital. Bad tenants can cause damage to the property, potentially more than is covered by their deposit, or your insurance.
It’s also possible to make a loss due to property prices going down, which is more than possible in the short term, although unlikely over the whole term of a mortgage.
What should I consider when it comes to a buy-to-let mortgage?
There’s a lot to consider when thinking about buy-to-let mortgage rates and deals. It’s not all about the interest rate.
Is an interest-only or repayment mortgage best for you?
Do you want fixed or variable monthly payments?
What loan to value rate do you want?
Do you want to add mortgage fees onto your mortgage?
Will you ever want to overpay or underpay?
Will you want to take payment breaks?
Might you need to remortgage?
Do you need a capped interest rate?
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Your home could be repossessed if you don't keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.
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