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  1. Fixed rate buy-to-let mortgages fall 

    The costs of fixed rate buy-to-let mortgages have fallen year-on-year according to Property Master.  Many mortgage lenders have reduced the cost of most of their fixed rate buy-to-let deals for landlords over the past 12 months. If you are looking to get a buy-to-let mortgage for some property in Chelmsford we can help you look at your options. 

    Property Master’s mortgage tracker, which follows a range of buy-to-let mortgages for an interest-only loan of £150,000, has recently shown that average rates across a range of classes of two- three- and five-year fixed rate mortgages for landlords have dropped over the past year.

    They have been able to see this by using algorithms to match the requirements of individual private landlords against the entire buy-to-let mortgage market. Five-year fixed-rate mortgages, particularly popular with landlords at the moment, have seen the most consistent falls. Their January 2019 Mortgage Tracker shows five-year fixed rate offers for 50%, 65% and 75% of the value of a property are all down since the start of the year.  Savings for each of these mortgages respectively were £8, £29 and £21 per month.

    “Whilst interest rate prediction given the uncertainty around Brexit is very difficult indeed, the Bank of England has given a clear signal that rates must rise at some point and most commentators are expecting this to happen in the coming year.”  Said Angus Stewart, their chief executive, “the current low rates, particularly for five-year fixed mortgage products, suggest that landlords should give serious consideration to remortgaging now to minimise the rate uncertainty that Brexit might bring.”

    If you are looking to buy some property in Chelmsford or get your mortgage fixed before the uncertainty of Brexit we can help you look at the property to live in or to buy-to-let.