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Find the best deals from buy to let mortgage lenders

The shaky economic climate made things a little tough for a while, but buy to let mortgage lenders are emerging from the wreckage and putting some interesting deals on the table.

For an overview on the buy to let market, head for www.residentiallandlord.co.uk where you will get a breakdown of the deals being offered by the various lenders. They offer an at-a-glance chart to show the interest rates on offer, although it's advisable to check the small print for terms and conditions. Sometimes, what seem like the best deals turn out to have clauses or fees that make them less appealing.

One of the UK's largest lenders the Halifax (www.halifax.co.uk) will offer a buy to let loan of up to 75% loan to value. The initial 2 year fixed rate for borrowing of up to 60% of the value is 4.79%. For up to 75% of the value the rate is 5.29%. These mortgages carry an arrangement fee of £995.

With interest rates likely to remain steady for a year or so, tracker mortgages might be tempting. The Halifax rates are 4.09 or 4.79% depending on how large a deposit you can manage. The maximum sum that the Halifax will lend on a buy to let mortgage is £1 million.

The Post Office (www.postoffice.co.uk) is also among the buy to let mortgage lenders on the High Street. They lend up to 80% of the purchase price and offer 2,3 or 5 year fixed rates starting at 4.29% for those who can find a 35% deposit. There are arrangement fees to add on to these mortgages, some as high as 2.5% of the sum borrowed.

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