BTL Remortgage Options

[JayBM]

Hoping for a little bit of help with regard to the mortgage on the property I currently rent.

Current scenario is the mortgage has been sat on the lenders SVR following the expiry of a fixed rate term. I've left this whilst trying to decide what to do with the property, however now with the prospect of increasing interest rates and house values not condusive to selling I think it may be worthwhile remortgaging on to a new product (either fixed rate of tracker).

LTV would be around 50% and property is currently rented at 145% of the mortgage payment.

In terms of what I would like to do with the property in the future; I would at some point like to sell but I can't see the market being fit to do this for a few years.

Could anyone with a better knowledge of the mortgage market provide some suggestions?

Many thanks in advance
James

[scotal]

James, YHM.

[rog007]

There are some great fixed rates out there with your good LTV but they may not last due to reported inevitable rise in interest rates this year. Often the best rates can be with your own bank. Worth a quick scan on one of the comparison websites then check your own bank for a comparison. Remember that not all intermediates have access to all deals; many companies only deal direct and they can have some of the best deals too so worth spending a long evening in front of the computer. Once you think you have found The One, its always worth getting a second opinion. Good luck.

[Sarnie]

rog007 said:

There are some great fixed rates out there with your good LTV but they may not last due to reported inevitable rise in interest rates this year. Often the best rates can be with your own bank. Worth a quick scan on one of the comparison websites then check your own bank for a comparison. Remember that not all intermediates have access to all deals; many companies only deal direct and they can have some of the best deals too so worth spending a long evening in front of the computer. Once you think you have found The One, its always worth getting a second opinion. Good luck.

Conversely, intermediaries have access to products not on the High Street.....

[Pickled Piper]

Sarnie said:

rog007 said:

There are some great fixed rates out there with your good LTV but they may not last due to reported inevitable rise in interest rates this year. Often the best rates can be with your own bank. Worth a quick scan on one of the comparison websites then check your own bank for a comparison. Remember that not all intermediates have access to all deals; many companies only deal direct and they can have some of the best deals too so worth spending a long evening in front of the computer. Once you think you have found The One, its always worth getting a second opinion. Good luck.

Conversely, intermediaries have access to products not on the High Street.....

Indeed, and if you want to be thorough and have the time, then take both approaches.

pp