Key Post Which lender has the most competitive Buy to Let rates?

Brendan Burgess

Founder
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40,899
Looking at these rates for a friend who is paying 5% to Finance Ireland

Variable rates

4740

ICS has clearly the lowest rate. Even after their initial charges, they are still cheaper. They charge Legal Fees
€1,168.50 + Outlays and an Application Fee 0.5% of the loan amount. This is capped at €1,500.



The cheapest fixed rate seems to be AIB 1 year at 5.55%.

ICS seems to be the clearest and the lowest and probably the most flexible.


4730

3.75% for <60% capital and interest.

For a €150k loan, they charge initial fees of €2,000 which is an upfront fee of 1.3% or about 0.3% a year over 5 years.



Ulster Bank sets out their rates clearly as well but they are very expensive


4731


At least, they are tied to their SVR, so that is some protection from arbitrary increases.


Bank of Ireland does not seem to quote the rates on their website.
Worse, it appears to me that if you follow the links on their https://personalbanking.bankofireland.com/borrow/mortgages/investor/why-boi/
investor page, they bring you to the home loan rates.

AIB is very clear and simple, if expensive.
4729
It's bizarre in my opinion that they complain about the difficulty in repossessing properties and yet they don't appear to have different rates for different LTVs. Maybe if the top LTV is 70%, there isn't much difference between 70% and 50%?
 

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Brendan Burgess

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Brendan Burgess

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I would avoid KBC which is up to its old tricks of charging existing customers more than new customers.

4734

I don't like this
*At the end of your fixed rate period you will roll off on to the Buy to Let standard variable rate.

They don't publish their Buy to Let SVR on their website.
 

Brendan Burgess

Founder
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40,899
Finance Ireland formerly Pepper - Avoid - they discriminate between new and existing customers

- has much cheaper rates for new Business. But I am sure that they exploit you once you are in the door and become an existing customer.
 

pennypitstop

Frequent Poster
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287
don't forget the credit union offer mortgages at simiar rates - my local one at 4.0%.
And possibly easier to restructure if you get into difficulty. Maybe?
 

Gordon Gekko

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I suppose the only saving grace is that Buy to Let interest is generally tax deductible, so the effective rate is usually half the headline rate.
 
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