Buy To Let Mortgages

Getting a good Buy To Let mortgage Deal:

There may be a low starting pay rate for the first 1 or 2 years, but the follow on rate is often around 5% variable.

There are some products with a higher starting rate, but the follow on rate is much LOWER.

Over 5 years these lower follow on rate products are usually much cheaper than the higher follow on rate products.

My comment:

When looking at the best Buy To Let product, decide how long you are likely to need the mortgage. If its 5 years or more check the total cost of the product over the likely term. Don’t just go for the cheapest start rate – it could be a false economy.

• A Low follow on rate could be more cost effective than a low start rate.
• Compare the overall cost of different mortgages over say 5 years before choosing a product