Back in March 2016, many landlords rushed to buy property ahead of the introduction of an additional 3% stamp duty land tax (SDLT) for those buying a second property. This surge to beat the change caused an 87% jump in housing transactions, according to the Land Registry.

It is now reported that many of those landlords secured themselves a two-year fixed rate mortgage at this time, so, in March this year, there will be an unusually high number of investors reaching the end of their fixed-rate deals.

Those who do not act when their fixed rate deal comes to an end may run the risk of being automatically placed onto the lender’s standard variable rate (SVR), which could result in higher monthly repayments.

However, even when these landlords do act to secure a new mortgage deal, some may find that their options are limited, as mortgage lending criteria for buy-to-let properties has become much tighter.

Typically, a mortgage application process takes around six to eight weeks to complete, so many landlords will need to act now in order to find the right deal for their circumstances.

<!--[if gte mso 9]><xml> Normal 0 false false false MicrosoftInternetExplorer4 </xml><![endif]--><!--[if gte mso 9]><xml> </xml><![endif]--><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} </style> span style="font-size: 12.0pt; font-family: 'Times New Roman'; mso-fareast-language: EN-GB;">Back in March 2016, many landlords rushed to buy property ahead of the introduction of an additional 3% stamp duty land tax (SDLT) for those buying a second property. This surge to beat the change caused an 87% jump in housing transactions, according to the Land Registry.

span style="font-size: 12.0pt; font-family: 'Times New Roman'; mso-fareast-language: EN-GB;">It is now reported that many of those landlords secured themselves a two-year fixed rate mortgage at this time, so, in March this year, there will be an unusually high number of investors reaching the end of their fixed-rate deals.

span style="font-size: 12.0pt; font-family: 'Times New Roman'; mso-fareast-language: EN-GB;">Those who do not act when their fixed rate deal comes to an end may run the risk of being automatically placed onto the lender’s standard variable rate (SVR), which could result in higher monthly repayments.

span style="font-size: 12.0pt; font-family: 'Times New Roman'; mso-fareast-language: EN-GB;">However, even when these landlords do act to secure a new mortgage deal, some may find that their options are limited, as mortgage lending criteria for buy-to-let properties has become much tighter.

span style="font-size: 12.0pt; font-family: 'Times New Roman'; mso-fareast-language: EN-GB;">Typically, a mortgage application process takes around six to eight weeks to complete, so many landlords will need to act now in order to find the right deal for their circumstances.