When most advisers research But to Let mortgages, there concentrate on the initial rate and arrangement fee charged by the lender. We believe that the follow on rate charged when your initial deal expires is equally as important. This is especially so in Buy to Let mortgages as the high arrangement fees will normally make remortgaging to a new lender poor value. A fee of 2.5% of your borrowing seems standard these days.
An attractive follow on rate is offered by Abbey/Santander currently 4.24% variable.
Listed below are the current standard variable rates offered by other Buy to Let providers.
BM Solutions 4.84% / Kent Reliance 6.58% / Leeds 5.99% / The Mortgage Works 4.99%
Nottingham B/S 6.54% / Platform 5.00% / Accord 5.99% / Coventry 4.74% (27/06/2012)
Why use Neil Soundy Financial for advice on your mortgage in Cardiff?
We will give you expert impartial advice on the mortgage market.
How Much Will It Cost Me For Your Advice?
A fee of £495 is payable on completion of the mortgage and Neil Soundy Financial Services Ltd will keep the commission received from the lender for arranging the mortgage.
Neil Soundy Financial Services Ltd is an appointed representative of HL Partnership Ltd which is authorised and regulated by the Financial Services Authority.
The Financial Conduct Authority does not regulate some forms of buy-to-lets.
We do not give or imply legal or taxation advice. We recommend you contact a solicitor or accountant for advice in these areas.
Think carefully before securing other debts against your home/property. Your home/property may be repossessed if you do not keep up repayments on your mortgage.