Since the dramatic budget last week we have seen mixed activity in the Buy to Let rates market. Some lenders have raised some or all of their rates, some have scaled down the number of deals and few have fully withdrawn their rates temporarily (Keystone, Lendco).
How property investors react to the budget will have a significant impact on the Buy to Let sector going forward.
- The sharp increase in stamp for second home purchases from 3% to 5%.
- The stamp duty threshold reverting to pre 2022 levels in 2025.
- The increase in CGT for second homes
Will all impact the landlord investors.
Those investors holding on for a rate cut may miss the boat, although most lenders are holding the rates from last week.
Some lenders have moved rates both ways, raising some rates in one hand and reducing some deals on the other. The trend among the lenders seems to be upwards. However, some are bucking the trend and have lowered the rates. Stand out is Santander. While larger lenders of the Buy to Let market like BM Sols and TMW are holding the line, Santander has cut rate across the Standard and Green ranges on both 2 y and 5 Y deals.
Precise on the other hand have got rid of several LTV tiers and only offering buy to let deals at a single LTV.
more ..... https://axessmax.com/latest-buy-to-let-rate-trends/
The affect of these changes on the maximum loan amounts are seen on our calculator: www.axessmax.com
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