If you are looking at a fixed rate mortgage, depending on what you think interest rates will do over the next few years, your considered thoughts will determine whether you fix your mortgage in for 2, 3 or 5 years.  
 
With the current turbulence of the mortgage market, especially over the last 12 months, landlords have been faced with the challenge of increased interest rates and in turn, this is impacting on affordability with the lenders. 
 
If you are unsure how long to fix for, we can provide you with access to BTL lenders who are offering a 5 year fixed rate with no ERC’s after 3 years. (correct at time of publishing) 
 
The advantage of this strategy is that the mortgage product is stress tested at the 5 year rate rather than 2 years (currently 2 year rates are higher) allowing you to maximise your mortgage amount and helping you to achieve a remortgage at your current level where some lenders are not even offering you as much as that, at this time. 
 
If interest rates go down, you can exit the mortgage at the 3 years point with no penalty.  
 
If interest rates go up, you can stay fixed in for the full 5 year term.  
 
This gives you the flexibility to move rate if interest rates start to decrease in 36 months time. 
 
An example from one of the lenders who offer this product: 
 
• Stress tested at pay rate 
• Max LTV 75% 
• Fees range from 2% to 5% OR they can offer a fixed fee at £1,999 
• Min loan £30k 
• Max loan £1m 
• Standard property – not available for HMO/MUB 
 
*Subject to normal underwriting and criteria checks 
 
 
In a time where flexibility is key, call me for a chat to discuss your options. 
 
Victoria Bennett CeMap 
 
 
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H D Consultants. Contact details here Live Chat webpage here Broker Log In / BrokerCentre here 
 
Head Office address; 109 Maldon Road, Colchester, Essex CO3 3AX (Administration Centre only) 
 
Your home may be repossessed if you do not keep up repayments on your mortgage. 
 
We normally charge a Professional Client Fee for mortgage advice. The amount will depend on your circumstances. A typical fee would be £500. The actual Professional Fee may be more or less than this, and is subject to a full Fact Find discussion and research process. H D Consultants is a trading name of Howard Reuben who are an Appointed Representative of PRIMIS Mortgage Network, a trading name of Personal Touch Financial Services Ltd. Personal Touch Financial Services Ltd is authorised and regulated by the Financial Conduct Authority. Registered Office: Preston House, 163 High Street, Crowthorne, Berkshire, RG45 7AF. Registered in England & Wales. Company Registration Number 4952586. This site is for UK Consumers only. Website Terms and Conditions click here for our Privacy Policy. GDPR Privacy Policy - click here (PDF download / view) This site contains third party links. By clicking these links you will depart from the H D Consultants' regulated site. H D Consultants nor PRIMIS Mortgage Network is responsible for the accuracy of the information contained within the linked site. The Financial Conduct Authority does not regulate some of the services listed. H D Consultants, mortgage and life insurance advisers, is authorised by the FCA no 403701. Our in house Wills and Trusts Practice is a long standing Member of the Society of Will Writers and Estate Planning Practitioners.  
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