Have you been thinking about a re-mortgage for your buy to let properties?
As property prices start to rise again the range of Buy to Let mortgages is inevitably going to increase. But if you’re tempted it might be worth considering whether you are actually going to be better off in the long run. We hope that this calculator will help you compare your current payments against any quotes you are considering.
First things first:
- This is not financial advice
- We are not recommending a product
- We are recommending that you search the market and take professional advice!
So having established the above points lets consider what you should do:
- Check the balance on your current mortgage
- Check the rate you are currently paying
- Check the rental income you are getting
- Research the market and get one or more buy-to-let mortgages you would like to compare.
- Fill the in the form below and the calculator will show you the saving, and how long it will take you to break even.
- To get an accurate picture it is very important that you include the financing costs, such as set up costs, legal/valuation fees, and broker fees.
Hopefully you now have idea how to compare your current payments against the repayment options. Most important that you include the set up costs, as the vast majority of buy-to-let mortgages now carry significant fees.