Buy to let mortgage rates compared.

Where the tiers sit

All the rates here are at 75% loan to value. A lower loan to value usually means a lower rate, and pushing to 80% where it is available usually means a higher one, even on a straightforward case.

The tiers run from mainstream high street lenders, with the lowest rates but the tightest criteria, through mid range lenders, to specialist lenders that take cases most lenders turn down and charge more for it. The right tier depends on the deal, not the rate alone.

Rate versus fee

Each tier shows two ways a product can be priced: a higher rate with no fee, or a lower rate that carries a bigger fee. Which one works out cheaper depends on the loan size and how long you fix for, which is why the table shows the total cost over the fixed period rather than the rate alone.

The cheapest total is not always the goal either. Some landlords choose the higher fee with the lower rate, sometimes for tax reasons in how the fee and interest are treated, and sometimes because they expect the property to grow in value and prefer the lower monthly cost. Tax treatment depends on your circumstances, so always speak to a tax adviser, and remember a rise in property value is never guaranteed.

Which tier are you likely in?

Not sure where you would fall? The BTL mortgage fact find walks through the details that decide it, such as the property type, your income and how the rent stacks up, and produces a PDF you can take to a broker.

What is not included

These are purchase rates. On a remortgage you will often find free valuation and free legals, and sometimes slightly keener rates.

On top of the product fee you may also pay a valuation fee, an application or booking fee, and solicitor costs, which vary by lender and are not in the totals above. To compare two real products in full, including those costs, use the mortgage comparison calculator.