Types of Buy To Let Mortgage Deal
Different types of buy to let mortgage interest rate deal include:
Standard Variable Rate Mortgage
Interest repayment will move up or down in line with the lenders variable interest rate which is influenced by changed to the Bank of England base rate.
Tracker Rate Mortgage
The lender will offer a deal that moves in line with the Bank of England Base rate or another benchmark e.g. Libor. Your mortgage will track the base rate up or down.
Discounted Variable Rate Mortgage
Interest repayments can go up or down but you will recieve a discount off the standard variable rate for a fixed period of time after which the deal reverts back to teh standard variable rate.
Fixed Rate Mortgage
The mortgage rate is fixed for a set period of time and will revert back to the standard variable rate.
Capped Rate Mortgage
The rate can fluctutate up to a fixed ceiling and will revert back to teh standard variable rate after a defined term.
You may wish to speak to a mortgage adviser about which BTL mortgage plan to take out - Use our service by clicking teh link at the top of the page.