Now is a great time to be a landlord with mortgage costs falling
- 13th February 2020
- Landlord Property News
Optimism in the buy-to-let market is high
Landlords are feeling more confident with mortgage costs at historic lows.
Five-year fixed rates for landlords have steadily declined over the past five years and show no signs of rising. A study by Moneyfacts.co.uk reveals that typical interest rates on buy-to-let mortgages were 4.39% in 2015 and 3.56% in February 2019. Today they are 3.2%.
Since the costs of buy-to-let mortgages remain low landlords should be out there looking for cheaper rates. Paragon Bank recently reported that 61% of buy-to-let landlords had secured a better rate by re-mortgaging during the last quarter of 2019.
The General Election has done much to restore confidence in the housing market, with the “Boris bounce” causing average residential property prices to rise 2.3% since December.
Stephen Ludlow, Chairman at ludlowthompson, says: “For anyone planning on entering the buy to let market, now is a great time.”
“With mortgage interest rates at record lows, and competition high among lenders, landlords should be able to secure competitive rates.”
“For most buy-to-let investors, finance costs are the biggest outlay, so low mortgages are a very important factor in determining the amount of profits that landlords can generate.”
ludlowthompson maintains its transparency by encouraging customer reviews across a number of platforms. Over a three-year period, we ranked number 1 agent in the UK on allAgents out of 15,000+ agents, with 5300+ 5* reviews.
Here is a selection of recent reviews of happy customers of ludlowthompson via Google Reviews:
Michelle X via Google reviews:
“As a landlord I am very pleased with [the ludlowthomson] team for the letting process.
Specifically, I am impressed with the following:
1. Correct rental pricing and access to quality tenants for the area.
2. Clarity, friendliness and responsiveness in communication.
3. A generally helpful and "can do" attitude. Willingness to listen.
I enjoyed working with the team and would recommend them to other landlords in the area.”
Tessy H via Google reviews:
“[The ludlowthomson team] are lovely to work with, a real joy! As a landlord, I'm incredibly pleased with how quick, caring, efficient and intelligent they are with our portfolio.”
For anyone planning on entering the buy-to-let market, now is a great time.
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