UK Landlord Forum / Life

Currently on the NR SVR at 5.34%. It's not the best deal on the market right now, and I can remortgage at anytime. I think the base rate will drop again next month, so I'm going to continue coughing up the doe until I spot a real good deal. It's a bit of a risk, but I don't think rates will go up anytime soon.

Anyone else doing the same?

Hi there,

I am on Halifax SVR which is 4.5 at the moment so not bad (although if they followed their own policy it would be 3.5).  However this is not 'officially' on a BTL mortgage so at some point I will need to remortgage.  Out of interest does anyone know what the admin cost is of these changes, it used to be a couple of hundred quid but Iam sure that given the current circumstances it is probably over a grand.  Other BTL deals are rubbish at the moment so will be waiting and saving until things get better,

PF where do u see rents going?

Last I checked, admin work was about £100 for that. However, some lenders don't even charge for doing it. I think it varies depending on lender. I'm not entirely sure if the interest rates would change either.

Doesn't having a residential mortgage for a BTL might cause problems with your insurance, if you ever needed to claim?

My NR mortgage just came down to 5.09 this week, which is pretty cool.


Rent is going UP! I'm currently looking for tenants. I put an advert on Gumtree with a top-end asking price, and I had like 5 responses in 3 days, which is pretty cool! Everyone wants to rent as they either can't afford to buy, can't afford to keep their home or just plains cared of investing in property!

Its good to hear that you are positive about rents going up, most of the news seems to suggest the contrary .  But my view is that even though we are entering a recession, the collapse in house sales has meant that fewer houses are being built so at some stage competition for homes will increase so rents may well go up at some point.  In the area of S london where my flat is, rents went up earlier in the year and have now come back down a bit, so rekon it will be shakey in the short term.

As to insurance, I only have buildings insurance which is part of the service charge, dont bother with contents

My view is that even though we are entering a recession, the collapse in house sales has meant that fewer houses are being built so at some stage competition for homes will increase so rents may well go up at some point.  In the area of S london where my flat is, rents went up earlier in the year and have now come back down a bit, so rekon it will be shakey in the short term.