26th September 2011
Kent Reliance improve BTL yields on all their BTL rates including new rates at 4.19% for 2 year fixed and 4.49% for three year fixed - both up to 75% loan to value- Contact your broker or Kent Reliance direct for further information
30th June 2011
With interest rates now seemingly on hold at 0.5% until next year, fixed rate mortgages are finally beginning to come down. Many 2 year fixed rates are now under 3%, and 5 year fixed rates, which had started to look highly uncompetitive in recent months, are now regularly coming in under 4%. For example, the Yorkshire Building Society has a five year fixed rate mortgage at 3.99% at 75% Loan to Value. As rates drop there are some encouraging signs of a return to a generally more competitive environment. The Halifax will no longer be charging a premium for interest only loans and the best news of all is reserved for first time buyers. According to Moneyfacts, two years ago there were just 6 mortgage products to choose from for 95% Loan to Value mortgages, now there are 31, but with rates that are still generally higher than for those with a larger deposit. One of the better deals is with Skipton Building Society, which has a 95% two-year fixed rate at 5.99%. However when you compare this to some of the deals available to those with a 25% deposit, such as a 2 year fixed rate from Abbey at 2.89%, you can see the kind of financial barriers that first time buyers are currently facing. To put all this further into perspective, in 2007 there were over 1,000 mortgage products available at 95% Loan to Value compared to only 31 today.