Where have the BTL Mortgages gone?

If you’re looking for a BTL mortgage and want to fix your mortgage rate then think again. You may have to wait as the majority of lenders have removed their fixed rate products.

Nearly 40 lenders have done this this week due to the uncertainty in the market.

We’ve been here before during Covid and the last credit crunch but this seems different. When you have had something for so long it becomes the new norm. Historic five year fixes of 2% for personal investors and 3% in the limited company space now seem an eternity away.

We won’t be going back to that so now is the time to evaluate your property portfolio to see what options you have.

We expect lenders to gradually return to the BTL market once they become more confident, but rates will be higher.

Over that last few months the 4% and 5% barriers have been breached. in the limited company market we’re now looking at 6%-7% rates!

We arrange BTL mortgages every day and have been here before and as landlords ourselves we are facing the same issues as you.

If you want advice then please get in touch.

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Searchlight Finance Ltd is a broker not a lender.

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We are a credit broker not a lender.

Searchlight Finance Ltd is registered at 98, King Street, Knutsford, Cheshire, WA16 6HQ. Company Register number is 07929050.

Authorised and Regulated by the Financial Conduct Authority. Our FCA registration number is 743220. You can check via www.register.fca.org.

We are registered with the Information Commissioner’s Office, Z3109319 and you can check via www.ico.org.uk.

We conduct both regulated and unregulated business and therefore not all products provided through us are regulated by the Financial Conduct Authority.

We source finance from the whole of market and may receive commissions that will vary depending on the lender, product, or other permissible factors. The nature of any commission model will be confirmed to you before you proceed.

Member of National Association of Commercial Finance Brokers (NACFB).