As a Guildford mortgage broker and Surrey buy to let specialist, we’ve secured countless buy to let mortgages on behalf of our clients. At one point, it felt like buy to let mortgages in Surrey were becoming as common as standard residential mortgages.
But then something changed.
Buy to lets became less lucrative due to a shift in government rules, which meant mortgages were no longer tax deductible and the tax liability for multiple homes increased. And whilst it took a while for the buy to let mortgage’s lifeforce to slowly ebb away, ebb away it did.
For a long time, buy to let mortgages were dormant. Even the best buy to let deals in the UK weren’t even… well, deals.
Cheap buy to let mortgage deals
Now, we’re a long way from the glory buy to let days of the mid 2010s, but as it stands, buy to let mortgage fixed rates are currently at the cheapest they’ve been since 2022*. Not only that, but property values have fallen slightly, too.
With some signs pointing towards the Bank of England’s base rate starting to fall later this year, there’s even hope that buy to let mortgage rates will fall even further – although we’re not convinced that property values will continue to fall.
Could this be the sweet spot for prospective property investors and existing landlords looking to expand their portfolio? Possibly, yes.
Taking the stress out of buy to let
Not only are UK buy to let rates becoming more accessible and property prices falling, but lenders have relaxed their buy to let stress tests, too.
Due to the easing of lenders’ buy to let borrowing criteria, it’s thought that a basic rate taxpayer or limited company borrower can now borrow significantly more than they could when the tests were more stringent.
Of course, as a Surrey buy to let mortgage broker, we feel that we help take the stress out of getting a buy to let mortgage, too. From the initial mortgage consultation through to securing the funds, we handle every aspect of the buy to let mortgage application.
So, whether you’re thinking of entering the buy to let property market or are a seasoned property investor looking to add another property to your portfolio, we can help.
For the best buy to let mortgage deals for landlords, contact the team at Complete Mortgages on 01483 238280 or by e-mailing info@complete-mortgages.co.uk. One of our Guildford buy to let mortgage brokers will be more than happy to help.
Please note that some forms of Buy to Let mortgages are not regulated by the FCA.
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