Buy to Let and Fixed Rate Versus Tracker Mortgages

fixed_rate_mortgages_versus_tracker_mortgages_for_a_buy_to_letIf your looking for a “Buy to Let Mortgage” in Ilfracombe or anywhere in the North Devon and Barnstaple area then benefit from our independent mortgage advice. Whether your looking for a “Buy to Let” as a pension investment or your looking to purchase a “Buy to let” for an ageing relative. Then we can help, here is a small snapshot of how we can help you find the best mortgage rate, that fulfills your needs now and in the future.

Terminology:

SVR: Standard Variable Rate

Customers who borrow and fail to regularly monitor their Mortgage deal usually end up on the standard variable rate. These rates of repayment tend not to be competitive when compared to the special offers available in the marketplace. These rates move broadly and in line with the Bank of England’s base rate, however a lender is not legally obliged to pass on any favorable changes.

Tracker Mortgages

Tracker Mortgages are similar in the way they work to variable rate mortgages the one major difference is that the mortgage tracks the Bank of England base rate rather than the Lender’s (SVR) standard variable rate. This can be more beneficial as you are then guaranteed to benefit from the full effect of any rate cut issued by the Bank of England.

Fixed Rate Mortgages

Fixed Rate Mortgages are set so that the uncertainty of life becomes less uncertain. Knowing that your mortgage payments wont change usually comes at a price, and dependent on the deal the fees can be quite high. Terms vary from one or two years to five to ten.

Watch out for your own complacency

Some Lenders offer you the customer special incentives and offers with the hope that after they have ended, you forget to shop around again. This is when you end up on their SVR. Mortgage reviews will ultimately save you money.

We monitor the marketplace daily and because we are independent we are able to be bias where it counts. Towards you the client, through our expert knowledge you could potentially save money, time and stress. We pride ourselves on the recommendations we receive and the repeat business we enjoy.

Many of our customers come to us for not only their Mortgage needs but Life Insurance and Pension needs also. You maybe a carpenter, a salesman selling photocopiers, a lawyer or a nurse, your job is involved and has many facets.

So do ours, we do this day in day out and have garnered a vast amount of expertise in the many years we have been in the financial industry. Benefit from that knowledge and expertise and contact us today via the form on the right.