According to the data collected by the Bank of England, it shows that mortgages are now cheaper than at any time since records started.
Investors contemplating about buying a buy-to-let property will be supported by the newest borrowing statistics; presenting fixed rate mortgage lending charge and variables down across the panel.
With 40% deposits, buy-to-let investors can now borrow at between 2% to 3%. Quite a number of lenders are even presenting rates of 3% on BTL mortgages with only a 25% deposit fee.
Rates have not been this low since the year 1995, when government officials began documenting the necessary information. With lenders increasingly eager to offer mortgages, many are now competing on offering great rates and price range for the borrowers.
With this modification in the market, growing numbers of investors are taking advantage and finishing the BTL purchases they have been considering for a time.
Several economic commentators are saying that the current low interest rate environment is likely to continue for some time to come, offering additional support to probable buy-to-let investors.
Last year’s Budget announcement for the new pension rules will open up added opportunities for property investors. Various investors have the opportunity to withdraw cash from their pensions which could then be placed towards funding their next buy-to-let property.
