Buy-to-let mortgage customers may search for cheap gas providers
Published on : 11/05/2010
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Cheap gas could be one way buy-to-let mortgage customers can ensure their energy bills are as attractive to tenants as possible.
Money may also be saved by investing in a cheaper mortgage, after Mortgage Works has become the only lender on the UK market to offer deals with an 80 per cent loan-to-value ratio, after increasing the rate from 75 per cent.
According to Lee Grandin, managing director at Landlord Mortgages, the news shows that confidence is returning to lenders and buy-to-let customers will begin to see similar moves in the future, which will help them with their finances.
Switching to a cheap gas provider may also help landlords and their tenants with their finances, especially in larger properties which need significant heating.
Mr Grandin noted about the home loan deal: "It will lead to more competition out of those lenders that are in the market at the moment which, in time, may then make it a better environment for landlords."
Mortgage Works currently offers one-year, two-year and three-year fixed-rate loans, as well as a one-year tracker deal in its 80 per cent loan-to-value range, with the best rate resting at 4.69 per cent.
