Buy-to-let mortgage customers may search for cheap gas providers

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* Between 1 Jan 2018 and 30 Jun 2018, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £482 or more.

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.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.


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