Some of the nation’s biggest lenders have raised their mortgage rates in the past couple of weeks.
Fuelled by the Bank of England (BoE) refusing to rule out a base rate rise before the end of the year and, coupled with rising inflation, it seems inevitable that the period of ultra-low rates is drawing to a close.
Lenders who have brought in increases recently include NatWest, Nationwide and TSB.
And although rates seem to be in the process of slowly creeping up, we think this is still the perfect time to lock in a cheap rate while they last.
Contact our award-winning team today to discuss the opportunities available to you. And remember, we could secure a new, incredibly low-interest rate now and not complete until as late as April 2022 in certain circumstances!
If you’d like to discuss how we can support you, contact our award-winning team on 0208 364 3444 or click the schedule a call button below to book a time slot.
Can I raise a deposit by remortgaging an existing property?
Simply put, yes. If your existing property benefits from positive equity there may be a number of options available to you from a simple remortgage to second charge loans. It is best to speak with a member of our team who’d be best placed to advise you on your options.
What is an SPV Limited Company?
A Special Purpose Vehicle (SPV) limited company is a non-trading company. It is set up with the sole purpose of buying, selling and letting property.
Most Buy to Let lenders prefer lending to SPV companies, this is because, when compared to standard limited trading companies, they are far less complicated to understand and underwrite. Recently we have found that more clients are choosing to acquire and own property via limited companies.
Is it difficult to obtain a buy to let mortgage?
Although this is what most new investors think, obtaining a buy to let mortgage is very similar to a residential mortgage and in most cases can offer more flexibility. You are likely to require a minimum 15% deposit, and if you have a bigger deposit you will have a larger choice of lenders with access to more competitive rates.