3:54 AM, 1st April 2012, About 12 years ago 5
We have seen interest free credit cards and financing for TV’s, sofa’s and even cars but we never expected to see this in the buy to let property sector. What’s more, the facilities come with a free valuation, no arrangement fees and no early repayment charges. There is a catch though. Funds are extremely limited and potential applicants have only until midday on 01/04/2012 to register and book funds. It is still unclear as to whether the funds can only be used for new purchases or to refinance existing portfolio’s.
The scheme has been dubbed by anti landlord charities as “yet another windfall for rogue landlords”, a spokeperson was quoted as saying “this will cost taxpayers dearly, the money might as well have been given to us to build bridges with the private rented sector”.
No explaination for this zero cost funding has been offered to date but speculation is that it’s a publicity stunt ahead of the 2012 Olympics.
Mark Alexander, founder of Property118.com said “there had to be a catch, the booking facility only being open until midday on a Sunday is going to mean that a lot of people will not become aware of this until it’s too late. This is just too good to be true and I’m not going to miss out on this fantastic opportunity. This is a big day for the Private Rented Sector and should be celebrated annually”.
Mr Iam Cagey of the Private Rented Sector watchdog said “landlords should always be suspicious of offerings like this, if something looks too good to be true it usually is”.
Mary Latham said “The Devil Is In The Detail”
We have also started a countdown clock to show landlords the time remaining to take advantage of this giveaway deal.