Many loan banks have returned their buy-to-let range to the pre-lockdown offering and reduced rates on a number of products. According to Specialist Lenders Solution, a site for latest updated bank and financial news, lenders have reintroduced early remortgage and short-term let products by 75 per cent loan to value (LTV).
The mortgage is a five-year fixed available up to 65 percent LTV with a rate of 3.29 per cent, and the early remortgage deal is a five-year fixed, up to 75 percent LTV with a grade of 3.65 per cent.
The short-term let product has a two- and five-year fixed offering with rates of 3.99 per cent and 4.64 percent respectively. Both are available up to 75 percent LTV.
These products have seen rate cuts of up to 0.4 per cent from what they were previously and are available to the lender's F1 borrowers, which is aimed at those who require larger loans.
Mortgage rates have remained cheaper at a number of LTV offerings, even though they weren't as low as last year. You can take an early remortgage by taking advantage of the low rates and protection offered by longer-term fixes.
You could save money in the long run if you remortgage now depending on your current deal, even if your current contract is subject to an early remortgage.
However, early remortgaging isn't the right decision for everyone; hence it is encouraged to speak to an independent broker who will understand your personal circumstances and help take things further.