Is it a good time to buy to let? Mortgages


The Bank of England has increased the base rate 11 times between December 2021 and March 2023 in an effort to curb soaring inflation. As a result, landlords looking to invest face steeper borrowing costs compared to a year ago.


While mortgage rates have fallen from their peak at the end of last year, the average buy to let five-year fixed deal sat at 5.72% in March 2023 — significantly higher than the 3% rates seen in March 2022.


Waiting for rates to fall further before taking out a mortgage may therefore help you avoid higher monthly payments. Alternatively, a tracker mortgage based on the BoE’s base rate may make it easier for you to switch to a better deal in the future.


Talk to us about your buy to let options.

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