You are here: Home - Better Business - Business Skills -

Fingers crossed Autumn Budget will ignore BTL – Ying Tan

by: Ying Tan, managing director of Buy to Let Club
  • 03/11/2017
  • 0
Fingers crossed Autumn Budget will ignore BTL – Ying Tan
It’s been a bit of a mixed bag in the buy-to-let world this month with rate rises and rate cuts across the board.

There was good news from Fleet Mortgages which announced it was reducing both rates and fees across a number of its products. Highlights include rate reductions on 75% loan-to-value (LTV) five-year fixes now at 3.49%, down from 3.79% and limited company buy-to-let 75% LTV five-year fixes now at 3.79%, down from 3.99%.

Limited company fees have been dropped from 1.5% to 1.25% and Houses in Multiple Occupation (HMO) fees have been cut from 2% to 1.5%.

Meanwhile, The Mortgage Works announced rate reductions of up to 0.45% across selected five-year fixed rates at 65% and 75% LTV.

And before the interest rate rise hit, BM Solutions became one of the lenders to increase rates, announcing a 0.15% increase to all two- and five-year remortgage buy-to-let and let-to-buy products.

 

Bated breath

As Mortgage Solutions reported some weeks back, Paragon Mortgages has undergone a rebrand and this month confirmed that the Mortgage Trust name is no more, with its products now coming under the Paragon non-portfolio brand.

Finally, Virgin Money revealed it will now accept a landlord’s personal income to cover any rental shortfall between the 125% and 145% rental coverage requirement.

Elsewhere the buy-to-let world waits with bated breath on this month’s Autumn Budget. We have already heard more on the lettings fee ban and may see further attention on affordable build-to-rent.

Indeed, as Theresa May made clear in her party conference speech, property is a key focus for the government going forward. Whether that focus will impact landlords and the buy-to-let sector further remains to be seen – I’m keeping everything crossed that it doesn’t.

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • Jo Wilson from Legal & General Home Finance talks about her Best BDM nomination and her love for the equity release… https://t.co/0tHhv6Lwvc
  • Sponsored content: Four reasons your client wants a product transfer by Halifax Intermediaries… https://t.co/c1k3dj88LO
  • Nationwide trims rates as Accord ups cashback on buy-to-let deals - https://t.co/nbsZh3z49u

Read previous post:
We need to tackle the rise of landlords with CCJs and impaired credit – Castle Trust

The landlord population of the UK is larger than the entire population of Estonia, with 1.75 million adults owning rental...

Close