Many landlords around the country are expressing concerns over the new tax changes and the effect this could have on their profits. Well now to add to the wows it is muted that an interest rate rise is coming by the turn of the year. If the rumours are true then it could be a very good time to review your current buy-to-let mortgage with a view to fixing the rate for the longer term. It is not in question that borrowers have had a very good run of low rates of interest but this could be about to change. It is not all bad news as there is still a massive choice of very good fixed rate deals on offer. Terms usually offered are between 2 to 10 years, be very careful when selecting your term as there are many things to consider. With such a vast choice of mortgages available it really does make sense to talk over your options with a professional adviser. Some of the lower rate deals may look good on paper but will cost a lot more in the longer term so do seek advice. Re-mortgaging to reduce costs and risk There are many reasons to consider re-mortgaging but do be careful as this is not always the best advice. As an example your current deal may well have an early redemption penalty and therefore giving no advantage at all. If you are unsure please do contact us and we will be happy to advise you the best way forward. The most popular reasons for re-mortgaging are listed below. Secure a better rate of interest. Change to a fixed term deal. Raise capital. Need advice? If you require help with your new or re-mortgage please do call one of our fully trained advisers and they will happy to assist.
