Article hero

Buy to Let: Now is the Time

Over the past two years we have experienced perhaps the busiest housing market in recent times for both sales and lettings. The demand for rental properties remains high, whilst stock levels are very low.
Shona Medcroft, Lettings Manager in Tiverton, notes: “If you have been considering a buy-to-let investment property, now would be the perfect time as here at GTH, we have a steady stream of applicants registered, and extremely keen to find a rental property. It’s also a great time to invest with buy to let mortgages opening the door for more people.”

We recently caught up with Neil Wyatt from Cooper Associates and here he provides an overview of the current mortgage market.
“The good news for landlords is there are now more mortgage options available to you than at any point since the start of the pandemic. After a tumultuous year we have seen normal market conditions return, with buy-to-let lending returning to pre-pandemic levels. The market is very much open so no matter whether you are embarking upon your first buy-to-let mortgage or you are an experienced portfolio landlord, the facilities are available.

“The Bank of England recently raised interest rates from 0.25% to 0.50%. This was the second increase in the space of two months and is a measure to tackle the continued rise in inflation. With inflation continuing to surge, further adjustments to interest rates in the coming months are anticipated, and it is possible there will be two or three increases throughout 2022.

“With further rate rises expected, it is more important than ever for home movers and investors to secure a good, long-term mortgage deal now. By utilising a whole of market mortgage broker you can check the best rates which are available to you.

“There have been more than 200 new deals for property investors launched in the last month alone. In addition to this, new data shows rental demand is rising significantly.

“In the table below we have provided a snapshot of the best rates currently available on buy-to-let mortgages.”
Lender Product Type Product Term Deposit Rate Arrangement fee
The Mortgage Works Purchase 2 years fixed 25% 1.19% 2%
HSBC Purchase 2 years fixed 25% 1.89% £0
The Mortgage Works Remortgage 2 years fixed 25% 1.19% 2%
NatWest Remortgage 2 years fixed 25% 1.88% £0

GTH has a close relationship with Cooper Associates Mortgages and they would be delighted to guide you through your next buy-to-let purchase or remortgage. They offer a fee-free, whole of market service, backed up by significant experience in assisting landlords with financing their properties.
If you are due to remortgage in the coming months, we advise you speak with one of their mortgage advisers as soon as possible, to take advantage of the best rates available. A mortgage offer can be obtained up to six months in advance, allowing you the peace of mind to secure a rate now and not be affected by any future increases to the base rate.
Shona continues: “We appreciate the thought of becoming a Landlord can be daunting, but we can provide consultancy at the start of looking for your investment property with the help of our network of offices across the South West, through to a range of tailored management packages when you’re ready to let.”

If an investment property is something you have been considering, please do not hesitate to contact your local office where our friendly teams would be more than happy to assist and answer any queries you may have.

Related News