Best Buy to Let Mortgage Deals

Our best buy table below highlights our pick of the buy to let mortgage deals that are currently available to our clients. If you are buying a residential property to rent out you'll need to get a buy to let (BTL) mortgage. Buy to let mortgages are almost identical in every way to a residential mortgage, a lender provides you with money to buy a property, the loan will be secured against the property and the mortgage is set against a fixed term. However there are a number of key differences you need to be aware of and consider when looking for the best buy to let mortgage deal. For example:

  • Buy to let mortgage rates can be higher than residential mortgages and generally you need to have a deposit of at least 25% of the value of the property.
  • The larger your deposit, the more attractive you are as a borrower and you'll have access to a better rate of interest. Generally speaking the best buy to let mortgage deals are available to people with a deposit of 40% and above
  • It's important to factor in set-up fees, which include arrangement, booking and valuation fees. These fees can be higher than a residential mortgage.

Why speak to a mortgage adviser?

 Before you decide to opt for one of the buy to let mortgages below, it's important to speak with an independent mortgage expert. Our advisers at John Charcol will be able to assist you in comparing products from across the mortgage market to help you decide which mortgage is best for you, and your individual needs. If you could be better off taking out a buy to let remortgage with another provider our experts will advise you.

Current best buy to let mortgage deals:

Initial Rate
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Total amount of credit
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Monthly repayments
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Scheme fees
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Total amount payable
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Overall rate
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Max Loan to value 75%: BTL 2 Year 2.19% Fixed. Minimum loan £300,000.
Initial Rate
2.19% Fixed until 31/12/2018 then 4.59%- Bank Base rate plus 4.34% for term
Total amount of credit
£337,500
Monthly repayments
£1,461
Scheme fees
£2,585
Total amount payable
£548,498
Overall rate
4.30% APRC

Fees and charges:

Booking Fee£0
Arrangement fee£1,995
Valuation fee£590
Other fees£0
Cashback£0

Flexibility:

Overpayments allowed?10% per annum
Early Repayment Charges3% until 31/12/2017 followed by 2% until 30/12/2018

Other info:

Exit fee£295
Basic legalsPayable- BM Conveyancing Only
Special Deal
Call now for more information: 0344 346 3672
Representative example A mortgage of £337,500 payable over 25 years on a repayment basis, initially on a fixed rate for 2 years at 2.19% and then on a tracker variable rate of 4.59% (which is 4.34% above Bank Base Rate, currently 0.25%) for the remaining 23 years would require 27 payments of £1,460.96 and 273 payments of £1,854.11. The total amount payable would be £548,498 made up of the loan amount plus interest (£208,118) and fees (£2,880 which includes exit fees of £295). The overall cost for comparison is 4.30% APRC representative
Max Loan to value 60%: BTL 3 Year 2.29% Fixed.
Initial Rate
2.29% Fixed until 01/11/2019 then 4.74% Variable for term
Total amount of credit
£270,000
Monthly repayments
£1,182
Scheme fees
£2,270
Total amount payable
£438,458
Overall rate
4.20% APRC

Fees and charges:

Booking Fee£0
Arrangement fee£1,995
Valuation fee£275
Other fees£0
Cashback£750

Flexibility:

Overpayments allowed?10% per annum
Early Repayment Charges3.5% until 01/11/2019

Other info:

Exit fee£50
Basic legalsPayable
Special Deal£750 cashback payable on completion
Call now for more information: 0344 346 3672
Representative example A mortgage of £270,000 payable over 25 years on a repayment basis, initially on a fixed rate for 3 years at 2.29% and then on a variable rate of 4.74% for the remaining 22 years would require 38 payments of £1,182.10 and 262 payments of £1,493.20. The total amount payable would be £438,458 made up of the loan amount plus interest (£166,138) and fees (£2,320 which includes exit fees of £50). The overall cost for comparison is 4.20% APRC representative.

Legal

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.

John Charcol is a trading name of John Charcol Limited and its Appointed Representatives. John Charcol Limited is authorised and regulated by the Financial Conduct Authority. The Financial Services Register number is 665649. Registered in England No. 9157892. Registered office address for John Charcol Limited is 5th Floor, Cutlers Exchange, 123 Houndsditch, London, EC3A 7BU. The FCA does not regulate some investment mortgage contracts. Calls may be recorded for training and monitoring.