Forward planning your mortgage finances, flexibly

If, like many property investors, you are watching the markets, the budget changes, the government legislation and you’re not entirely sure where interest rates., costs and the mortgage market will be in the short term, there are some products that you can take advantage of, with no early redemption penalties to worry about if you need to move your mortgage deal (or sell) quickly. 

 

Many mortgage borrowers are due to remortgage this year and they’re unsure whether to tie in to a new deal or not, and whether to sell in the next year or so, during these volatile times. 

 

By doing nothing, they may be inadvertently switching on their existing lenders standard variable rate, some of which are 8.5%, 9% and higher. The ‘cost of delay’ of acting and moving your deal, could end up being extremely costly. 

 

So, there is a short term option, a standard holiday let mortgage deal, with a rate lower than most lender’s standard variable rates, but with a ‘get out for free' clause too. 

 

Lendinvest’s 2 year tracker rate has a payrate of the Bank of England Base Rate plus 3.19%, with just a 1.75% lenders arrangement fee. It also has no early redemption charges and a £350 cashback on completion too. 

 

The maximum loan size is £750,000 and they lend throughout England, Wales and Scotland. 

 

Lending up to 70% LTV, this product enables the property owner to reduce their costs versus the existing lender’s SVR, and also provides that flexibility which is required in these ever changing times. 

 

Contact the team for a chat to see what options you are eligible for.