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Real Estate Briefing - Categorized | Investment, Market Moves, Mortgage more

Ten tips for distressed landlords

Posted on 06 October 2008

From Times Online: Llandlords coming to the end of cheap two-year fixes face payment shocks of almost £300 a month on a typical £150,000 mortgage, as house prices fall and lenders pull their competitive deals.

The number of buy-to-let mortgages shrunk by almost a third in a single day last week following the withdrawal of Bradford & Bingley, formerly the UK’s biggest lender to landlords, from the market. UCB Home Loans and The Mortgage Works, both owned by Nationwide, followed suit. Nationwide said it was a temporary measure as they were inundated after B&B’s demise. It expects to resume business for new customers within days….. Full Article: Source


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