Jonathan Stinton is head of intermediary relationships at Coventry for intermediaries
Thousands of fixed rate mortgages will reach maturity this year, and many will be buy-to-let (BTL) landlords. This April marks five years since the 2016 stamp duty charges on second homes came into effect and a wave of landlords took out 5-year fixed rate mortgages at the time. It’s also set to see a spate of 2-year fixed rates maturing too.
This might not be their first rodeo in the mortgage market, but many of these BTL customers will be facing a very different situation to 2016 or 2019. The ongoing impact and uncertainty caused by the Coronavirus crisis will be at the front of their minds. Now more than ever they’ll need the guidance and support of intermediaries to make the right choices about their next mortgage.
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