Independent Financial Life Planners Bishop's Stortford: Should I Buy-to-let?

Friday, 16 September 2016

Should I Buy-to-let?

Enables’ IFA’s in bishops Stortford have been following the Buy-to-Let market post Brexit with interest. Some market analysis by Mortgage Brain has revealed recently that that the costs of buy-to-let mortgages have actually fallen by as much as 8% over the past six months. Meaning many buy-to-let landlords have been benefitting from the continuing reductions of mortgage costs, as lenders across the board have been shaving percentage points off their best deals in an effort to attract greater business from those buying or re-mortgaging property, including buy-to-let landlords.

Part of the analysis of Mortgage Brain’s latest product data shows that the cost of a five-year fixed buy-to-let loan with a 70% loan-to-value (LTV) is now 8% less than it was in March 2016. With the current rate of 2.8%, as of 1 September 2016 there is a potential annualised saving of £738 on a £150,000 mortgage.

Many economists are predicting that the Bank of England will announce another cut to the base rate in November taking it from 0.25% to just 0.1%. If that is the case then there is every chance that mortgage costs could fall even further in the closing months of 2016. Mark Lofthouse, CEO of Mortgage Brain said: “With further interest rate cuts predicted by the Bank of England it will be interesting to see what happens to mortgage rates and costs over the next few months.
“There’s no doubt though that on the whole borrowers and potential buy-to-let investors are in a great position to take advantage of the low rates and cost reductions that we’re seeing.”

https://www.landlordtoday.co.uk/breaking-news/2016/9/buy-to-let-mortgage-costs-down-by-as-much-as-8

Issued by: Enable Independent Financial Life Planners •  25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

1 comment:

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IFA Bishop's Stortford

At Enable Independent we know that our clients trust us and rely on our advice to help them to plan a better, more secure financial future. This is a responsibility that we take very seriously especially because we know that many clients have chosen us on the recommendation of friends and family. Each one of our advisers has deep expertise in their area of specialist knowledge and, as a team, we hold some of the highest qualifications available in the financial advice industry.

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