In some much needed good news for UK property investors, a report released yesterday has shown that buy to let mortgage costs are beginning to fall, as competition amongst the larger mortgage providers results in lower costs for landlords.
The figures, released yesterday by Mortgage Brain, have shown that the second quarter has experienced rate reductions from many of the major buy to let mortgage providers.
The news will be welcomed by an industry which is experiencing significant headwinds due to the wider political uncertainty in the UK at present.
Assessing the cost of buy to let mortgages on a quarterly basis, Mortgage Brains data stated that the cost of a two year fixed buy to let mortgage product (60% LTV) was now 1.9% lower than it was three months ago.
The reduction represents a saving of over £140.00 over a year on a buy to let mortgage of £150,000.
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