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Graham Awards


Buy to let mortgages more expensive - but there's more choice, too

The cost of most mainstream buy to let mortgages is increasing according to online operator Mortgage Brain.

The cost of a two year buy to let tracker with 60 per cent or 70 per cent loan to value ratios, for example, is now three per cent higher than in November. 

With a current rate of 1.79 per cent and 2.14 per cent respectively, the three per cent rise equates to an annualised increase of £216 on a £150,000 mortgage.


The cost of an 80 per cent LTV two year fixed at 3.44 per cent is now two per cent higher than it was three months ago.

There is some better news for borrowers looking for a longer term deal, however, with Mortgage Brain’s latest data showing a two per cent reduction in cost over the past three months for a 70 per cent LTV five year fixed product, and a one per cent reduction for the same product with a 60 per cent or 80 per cent LTV.

Despite this volatility, an additional 721 products were introduced into the UK buy to let market during 2017, representing a 32% increase in overall product availability – up from 2,238 in January 2017 to 2,959 in January 2018.


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