September’s second phase of the Prudential Regulation Authority changes, coupled with months of rate rise predictions, seem to have had little effect on the cost of BTL mortgages with new data from Mortgage Brain showing minor movement over the past three months.
Despite going through another period of change and uncertainty, leading to this month’s eventual hike in interest rates, a number of mainstream BTL mortgages are down in cost since August – some for the second successive quarter.
With a current rate of 1.54% and 1.89% respectively (as of 1st November 2017), the cost of a 60% and 70% LTV two year BTL Tracker, for example, is now 2% lower than it was three months ago.
