Nationwide Building Society made headlines last week offering the first sub-1% five year fixed mortgage deal on record. It is encouraging to see that the reduction in mortgage rates is continuing to be seen across the board.
It is true that lenders have been hesitant to bring 80% LTV products back to pre-COVID levels. This is down to uncertainty around what house prices will do in the latter half of 2021 and into 2022, however, we are now seeing new 80% LTV buy to let products being released, demonstrating the recovering market.
One particular lender has added 15 new 80% LTV rates to their BTL range and other lenders are quickly following suit.
What’s more, we are also seeing lenders re-introduce competitive Holiday and Short Term Lets products, perfect for those that benefit from the Airbnb trend.\
With newer, more competitive rates coming to market, this is a great time to re-evaluate your current mortgage products. There are likely to be opportunities to remortgage or switch products and more experienced landlords might benefit from rate drops across their portfolio.
We encourage you to contact our senior mortgage broker Danny O’Keeffe on 0208 364 3444 or use the schedule a call back tab below to arrange a time to discuss your options.