10:41 AM, 23rd May 2014, About 10 years ago 8
I found out yesterday that Woolwich have now started using a reference rate of 5.79% at 125% in their rental calculations. They seemed the last of the lot in this regard after BM stopped using the pay rate last year.
I’ve only been in the BTL game for a couple of years now, and wanted to hear views on this. I’m trying to think about who I’ll be remortgaging to in the next 18 months or so, if every lender will demand higher required rents in their calculation.
Would it be better to reduce outstanding debt in the next year or so, or are things likely to change?
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