Landlords being forced to pay massive mortgage fees

Landlord Expert
By Landlord Expert August 23, 2010 11:48

Landlords are being asked to pay massive mortgage fees despite a surge in loans being approved.

There were 24,900 buy-to-let mortgages granted in the second quarter of 2010 - a 13 per cent increase on the previous quarter. However, landlords still need a deposit of at least 30 per cent to qualify for the best rates.

Market Harborough BS is offering a two-year fixed rate at 4.5 per cent with a fee of £845 at 70 per cent loan-to-value. That would mean monthly repayments of £834 on a typical £150,000 mortgage.

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Landlord Expert
By Landlord Expert August 23, 2010 11:48

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