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You are here: Home / Mortgages / Buy to Let Mortgage / Time to Fix your Mortgage Express Rosinca Mortgages Buy-to-let Trackers:

by Payam Azadi

Time to Fix your Mortgage Express Rosinca Mortgages Buy-to-let Trackers:

Rosinca Mortgages

It may be time to come off the Tracker rates of Mortgage Express Rosinca Mortgages


Is now the right time to switch your buy-to-let mortgage from Mortgage Express (Rosinca Mortgages) variable Tracker to a Fixed Rate? Remortgage or Product Transfer.

Mortgage Trackers on the rise! Could this be the end of low interest rates for now?

I’m not going to pretend I’m an Economist but the warning signs are there for Tracker mortgage holders, even those with small loadings over Bank of England Base Rate such as Mortgage Express buy-to-let trackers.

You only have to enter your local shop or the petrol pump to see the sharp rise in inflation. A global divide of Nations stimulated by Brexit and the Ukrainian War has caused major disruptions to the supply chain; and the re-bound of pent-up consumer demand for goods following the reopening of the economy in 2021 post pandemic are sighted as the main causes for the increase. Whatever the drivers are inflation is real and currently running at around 8% with the papers saying it could reach 10% by the end of the year.

As a consequence The Bank of England Monetary Policy Committee (MPC) on 17th March 2022 chose for the third time in four months to increase the Bank Base Rate, this time to 0.75%, to dampen consumer spending.

This may be cheered by the long-suffering Savers but for the Tracker Mortgage Holders it’s starting to hurt so if you are one of them – read on – and don’t just sit on your hands!

Mortgage Express: Guard Against Rate Rises by Fixing Your Rate

Mortgage Express was a well-loved lender back in the day. They were pioneers: 100% mortgages; products without higher lending charges; flexible payments, and Limited Company Buy-to-lets were just some of their USPs. They were however predominantly known as a standard buy-to-let super juggernaut. 

As part of the ill-fated Bradford and Bingley Group, their demise, like many other Lenders, was a result of the 2007 Banking Crisis, and this lead to their back-book of mortgage customers being serviced by Rosinca Mortgages.

Thousands of Mortgage Express buy-to-let customers will be on Bank of England Trackers with typical margins of 1.75% or 2.00% above Bank of England Base Rate and they must be seriously contemplating remortgaging in light of the interest rate rises.

Buy-to-let 5 Year Fixed Remortgage Rates

So what fixed rates are offer? Below gives details of the some of the remortgage rates currently on offer but don’t expect them to be there for long:

Minimum value in your property40% equity25% equity20% equity
Initial rate2.04%2.09%3.04%
Subsequent reversionary rate4.74%4.00%5.54%
The total amount you must pay back, including the amount borrowed is£370,539.00£430,412.68£543,844.00
Overall cost of comparison APRC4.1%3.6%4.9%
Type and initial benefit periodFixed to 31/05/2027Fixed to
02/06/2027
Fixed to
31/05/2027
Minimum equity40%25%20%
Lender valuation fee£340Free£340
Lender booking fee£Nil£Nil£Nil
Lender product fee£995£1,499£995
Cashback from the Lender£Nil£Nil£Nil
Basic legal costsPayableFreePayable
Lender nameThe Mortgage WorksSantanderThe Mortgage Works
Our broker fee chargeFrom £499From £499From £499

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* Rates as at 19/3/2022.
* Figures produced using Twenty7tec software.
* True Cost factors in the interest rate, mortgage set-up costs and any cashback rebates. It assumes the product fee is paid and is no greater than £2,500.
* The comparison is based on an assumed purchase price of £300,000 over a 25 year mortgage term.
* It looks at repayment method of “Interest only” for Buy-to-let.
* Eligibility will depend on your own personal circumstances.                                                                 

Your Property is at Risk if you do not keep up with your mortgage repayments.

Niche Advice arranges mortgages and is not a Lender.

Payam Azadi

Author: Payam Azadi

Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines. To get in contact with him please click here.
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AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA Number: 750263.

Commercial Buy-to-Let and commercial mortgages are not regulated by the Financial Conduct Authority.

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