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 1.94% Fixed.
Initial Rate
1.94% Fixed until 02/05/2019 then 4.49% variable for term
Total amount of credit
£337,500
Monthly repayments
£1,421
Scheme fees
£2,034
Total amount payable
£541,362
Overall rate
4.10% APRC

Fees and charges:

Booking Fee£0
Arrangement fee£1,999
Valuation fee£0
Other fees£35
Cashback£250

Flexibility:

Overpayments allowed?10% per annum
Early Repayment Charges3% until 2-5-2019

Other info:

Exit fee£225
Basic legalsPayable
Special DealCashback of £250. Free valuation (up to £1,190).
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 1.94% and then on a variable rate of 4.49% for the remaining 23 years would require 27 payments of £1,420.67, and 273 payments of £1,834.23. The total amount payable would be £541,362 made up of the loan amount plus interest (£201,603) and fees (£2,259 which includes exit fees of £225). The overall cost for comparison is 4.10% APRC representative.
Max Loan to value 75%: BTL Flexx Variable rate for term.
Initial Rate
2.39% Flexx Variable for term which is managed by Godiva Mortgages Ltd
Total amount of credit
£337,500
Monthly repayments
£1,494
Scheme fees
£2,007
Total amount payable
£450,452
Overall rate
2.50% APRC

Fees and charges:

Booking Fee£0
Arrangement fee£1,999
Valuation fee£0
Other fees£8
Cashback£0

Flexibility:

Overpayments allowed?Unlimited
Early Repayment ChargesThere are no early repayment charges but a fee of £125 is payable when the mortgage is redeemed

Other info:

Exit fee£125
Basic legalsPayable
Special DealFree Valuation (maximum £700). Free Legal for remortgages.
Call now for more information: 0344 346 3672
Representative example A mortgage of £337,500 payable over 25 years on a repayment basis, on a flexx variable rate for term at 2.39% would require 300 payments of £1,494.40. The total amount payable would be £450,452 made up of the loan amount plus interest (£110,820) and fees (£2,132 which includes exit fees of £125). The overall cost for comparison is 2.50% APRC representative.
Max Loan to value 60%: BTL 5 Year 2.44% Fixed.
Initial Rate
2.44% Fixed until 30/04/2022 then 5.00% Variable for term
Total amount of credit
£270,000
Monthly repayments
£1,202
Scheme fees
£2,309
Total amount payable
£434,538
Overall rate
4.10% APRC

Fees and charges:

Booking Fee£0
Arrangement fee£1,999
Valuation fee£310
Other fees£0
Cashback£500

Flexibility:

Overpayments allowed?During the early repayment charge period up to £1,000 each month without incurring an ERC
Early Repayment Charges£74 + 5% til 30/04/18, £74 + 4% til 30/04/19, £74 + 3% til 30/04/20, £74 + 2% til 30/04/21, £74 + 1% til 30/04/22 plus £500 cashback repayable

Other info:

Exit fee£74
Basic legalsPayable
Special DealCashback of £500 on completion. Free legal service for Remortgages only.
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 fixed rate for 5 years at 2.44% and then on a variable rate of 5.00% (4.50% above Bank Base Rate, currently 0.25% which will not go below a floor of 5.00%) for the remaining 20 years would require 62 payments of £1,202.27 followed by 238 payments of £1,502.58. The total amount payable would be £434,538 made up of the loan amount plus interest (£162,155) and fees (£2,383 which includes exit fees of £74). The overall cost for comparison is 4.10% 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.