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Buy-to-Let rates

The first step many people take when they’re looking for a buy to let mortgage is to compare buy to let mortgage rates, but it’s important to remember that rates aren’t the whole story. There are other factors which affect how suitable a deal is for you, like fees and conditions. The rates below give an idea of the best buy to let mortgages, but are not necessarily the right mortgage for you.

Leek United BS
INITIAL RATE
1.79%
TYPE
VARIABLE
TOTAL FEES
£20
APRC
4.9%
24 payments at £620.20
then 276 at
£891.11
SEE MORE
subsequent RATE
5.44%
INITIAL PERIOD
24
total amount payable over the term
£152,497
early repayment period
0m
initial payment
£620.20
subsequent payment
£891.11
Skipton B.Society
INITIAL RATE
2.30%
TYPE
TRACKER
TOTAL FEES
£501
APRC
4.6%
24 payments at £657.47
then 276 at
£854.41
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subsequent RATE
4.94%
INITIAL PERIOD
24
total amount payable over the term
£153,965
early repayment period
0m
initial payment
£657.47
subsequent payment
£854.41
PMS - Leeds
INITIAL RATE
2.40%
TYPE
VARIABLE
TOTAL FEES
£234
APRC
5.2%
24 payments at £664.93
then 276 at
£932.60
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subsequent RATE
5.99%
INITIAL PERIOD
24
total amount payable over the term
£153,980
early repayment period
0m
initial payment
£664.93
subsequent payment
£932.60
Accord Mortgages
INITIAL RATE
2.04%
TYPE
TRACKER
TOTAL FEES
£950
APRC
4.2%
25 payments at £638.30
then 275 at
£839.91
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subsequent RATE
4.99%
INITIAL PERIOD
25
total amount payable over the term
£154,053
early repayment period
0m
initial payment
£638.30
subsequent payment
£839.91
Tipton + Coseley
INITIAL RATE
2.99%
TYPE
VARIABLE
TOTAL FEES
£300
APRC
4.6%
60 payments at £709.96
then 240 at
£880.37
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subsequent RATE
5.49%
INITIAL PERIOD
60
total amount payable over the term
£154,824
early repayment period
0m
initial payment
£709.96
subsequent payment
£880.37

This table is based on a property value of £250,000 and a mortgage of £150,000 with an expected monthly rental income of £1,000. This is calculated on an interest only basis over 25 years.

Find out more about APRC and how it is calculated here. Buy-to-let mortgages usually require larger deposits than a typical residential loan, and your lender will need to see evidence that your expected rental income will be at least 125% of the mortgage interest payment. Find out more with our step by step guide to buy to let, or check out our inter-active guide to becoming a landlord.

 

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