Each week we round-up the best comments, emails and letters to the site and pick one reader contribution as our Star Letter. This week’s award goes to:
Landlords struggling with tightening interest-only mortgage market
I think lenders for many years have tried not to lend to professional landlords with a large portfolio – the fear of the landlord cancelling all those direct debits is almost too much for most.
Most buy-to-let lenders have limits on the number of background buy-to-let mortgages and property owned, only a few don’t ask many questions.
Compared to four or five years ago of course the underwriting is much tighter, but the ‘struggling with tightening interest-only’ with buy-to-let mortgages I feel is misplaced. This has nothing to do with interest-only lending, just the risk profile of those with lots of buy-to-let mortgages.
Justin Moy
18 Apr 2012 | 09:19
