The Coventry Building Society has cut rates and fees on buy to let loans through subsidiary Godiva.
Two year fixed rates are offered at 4.30% at 65% loan to value with a £250 booking fee and no arrangement fee, while another two-year fix is available at 3.99% with a £250 booking fee and a £749 arrangement fee.
Platform has also cut buy to let rates across a range of tracker and fixed rate buy-to-let products. Continue reading Buy to Let Arrangement Fees Reduced by Godiva and Platform
Buy to let borrowing was down 5% in the first three months of the year after a barnstorming end to 2011.
In figures that revealed buy to let is treading water rather than buoyant, new landlord loans totaled £3.7 billion, according to the latest official figures from bank and building society trade body the Council of Mortgage Lenders (CML). Continue reading ‘Buoyant’ buy to let lending sinks by 5%, lenders report
Co-Operative Bank buy to let mortgage customers can breathe a sigh of relief as the wholesale scrapping of interest only loans does not include buy to let borrowers.
The bank’s specialist property investment subsidiary Platform will continue to offer interest only deals to landlords. Continue reading All change on the buy to let mortgage front
Mortgage underwriters are set to ask borrowers detailed personal questions about their spending habits as the banks tighten up lending rules.
Santander’s Abbey for Intermediaries – which includes buy to let lending for landlords – will quiz applicants about how much they spent on Christmas and birthday presents.
Other one-off spending will also come under scrutiny, like holidays, celebrations and ‘miscellaneous’ spending. Continue reading Bank wants to pry into your personal spending
As the buy to let mortgage wars hot up, several lenders are easing their terms for landlords.
Yorkshire Building Society has decided to offer buy to let across England and Wales, instead of just London and the South East. Continue reading Buy to Let Mortgage Conditions Eased
Buy to let mortgage lenders are creaming off the best borrowers and leaving the rest without any real hope of raising loans.
The reality of the market is more lenders are swooping like sharks in a feeding frenzy on landlords with the best credit ratings and highest rental yields, although they would have property investors believe they are helping swell the number of properties in their portfolios. Continue reading Booming Buy to Let Reality Check for Landlords
Buy to let lenders have fired the first shots in the battle to win the hearts and minds of property investors.
Platform, the landlord loan subsidiary of the Co-operative Bank, is increasing funding in the sector by 33% from £450 million last year to £600 million in 2012. Continue reading Buy to Let Mortgage War Hots up with New Deals for Landlords
A buy to let lender was slammed for a landlord mortgage of £166,500 without carrying out proper income checks in a negligence case at the High Court.
GMAC-RFC – now trading as Paratus-AMC – agreed the 90% loan-to-value advance on a £185,000 property valuation from Countrywide in 2004. Continue reading Judge Hits Out at Buy to Let Lender’s Poor Underwriting
Tough new mortgage restrictions to stop borrowers falling in to arrears have been proposed by the Financial Services Authority after months of behind-closed-doors negotiation with lenders.
Out go self-certification and interest-only home loans for most mortgage borrowers.
In come strict affordability tests to combat payment difficulties and mortgage fraud for borrowers – with lenders having to prove borrowers could afford their repayments before taking any action to seek arrears or repossession. Continue reading FSA Propose New Mortgage Lending Restrictions
Santander has joined the buy to let lending frenzy with a range of purchase and remortgage deals for landlords.
The property investment loans are available from IFAs and mortgage brokers under the Abbey for Intermediaries banner. Continue reading Santander Joins Buy to Let Mortgage Frenzy