Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property118. Read the original article for full details.
Buy to Let Lenders Expand Mortgage Options for Landlords
Buy to let lenders are increasing the range of mortgage products available to landlords. Tracker mortgages are now being highlighted as an option for those seeking flexibility rather than committing to a fixed rate.
According to Property118, Landbay has introduced five new buy to let product transfer tracker mortgages. These new products are available across both its Core and Specialist buy to let ranges.
A notable feature of these new tracker products is that they come with no early repayment charges. This may be of interest to landlords who want the ability to make changes to their mortgage arrangements without incurring additional costs.
Letting agents and inventory clerks may wish to note these developments, as changes in mortgage product availability can influence landlord decisions and the wider rental market.
Source: Property118