Landlords being forced to pay massive mortgage fees
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.
Read more: http://www.dailymail.co.uk/money/article-1303979/Landlords-hit-huge-fees-new-buy-let-loans.html?ito=feeds-newsxml#ixzz0xQPSzrHg