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 Mortgage Rates Begin to Rise as Lenders Reprice Deals
Buy to let mortgage rates are starting to increase as lenders react to rising swap rates, according to research reported by Property118. Several providers have begun repricing or withdrawing deals in response to these changes.
Moneyfactscompare.co.uk reports that the average two-year fixed buy to let mortgage rate now stands at 5.32%, while the average five-year fixed rate is 5.70%. These figures are up from 5.29% and 5.66% respectively, as recorded on 1 September.
The report also notes that HSBC has increased its buy to let mortgage rates. The changes come as lenders adjust their offerings in line with the current market conditions.
For UK letting agents and inventory clerks, these developments may impact landlords' decisions regarding new investments or remortgaging existing properties. Monitoring mortgage rate trends remains important for those advising clients in the private rented sector.
Source: Property118