Mortgage companies now charging interest in advance says Letting Focus
Is there no end to the mortgage lenders desperate attempts to squeeze money out of borrowers to make up for ever lower headline mortgage rates?
In previous blogs you will know how I have commented on how so called “arrangement fees” have gone ever higher.
They are now so ridiculous that the lenders have now dropped the term “arrangement” when referring to these fees - possibly for fear of being done by the trade descriptions people.
I have also shown in past blogs how you can save money on mortgage lenders’ rip off valuation fee by going straight to a surveyor for a valuation or survey and also, how, by making a simple call to your lender you should be able to reclaim previously unfairly high arrangement fees.
But still the lenders come up with ever more smart ways of making money.
I have just realised that my lender now deducts interest in advance, rather than in arrears. They put this sneaky change in around June 2005.
How much extra did that clever idea make for them I wonder? Quite a lot, I suggest.
ABOUT DAVID LAWRENSON and LETTINGFOCUS
LettingFocus.com are the experts on landlord issues and I’m David Lawrenson, the author of “Successful Property Letting” – which has been the UK’s top selling property and buy to let book for the last 3 years.
We help landlords and property investors make money in property by coaching them in ways that work, that are ethical and which involve minimal risk.
I have been a landlord and property investor myself for over 25 years.
At LettingFocus we offer independent unbiased buy to let advice for property buyers and landlords both on a one to one mentoring and coaching basis as well as through occasional group seminars.
Property syndicates and property advice in the UK is still largely unregulated and “advice” is more often more about making the promoter money than giving useful information
With no link to property firms, developers or bridging loan providers, at LettingFocus, we aim to give unbiased independent advice on where and what type of property to buy for investment, when to buy and how to buy property at a low price.
We also show you how to manage tenants properly and in ways that take up as little of your time as possible.
CHECK OUT THESE PAGES AT OUR SITE LETTINGFOCUS.COM:
THE HOME PAGE OF THIS BLOG click here: Blog
THE HOME PAGE OF OUR MAIN SITE click here: LettingFocus Home Page
NEXT SEMINAR AND NETWORKING EVENT for Landlords and Property Investors:
Next Property Investing Seminar and Networking Event
We have GREAT OFFERS on a range of products for landlords too; click here including landlords insurance, tenant referencing, tenancy agreements and more: Services and Products for Landlords
For general info on our SEMINARS AND CONSULTING click here: Property Seminars, Networking Evenings and Consulting
ONE TO ONE PRIVATE CONSULTING click here: Property Mentoring
CLIENT TESTIMONIALS from past customers click here: Testimonials
BUY THE BOOK click here: Buy the Book at Amazon
To JOIN our Free QUARTERLY NEWSLETTER simply send an email to david@LettingFocus.com - Please note we WILL NOT send spam or sell our mailing list to advertisers!
IF YOU HAVE A SITE WHY NOT LINK TO THIS BLOG OR OUR WEBSITE?
Selling services to landlords and property investors and have a national coverage? You could be a partner, please get in touch!
TO VIEW RELATED POSTS select a “Category” at the bottom of this page.
WANT TO ADD A COMMENT OR VIEW OLD COMMENTS?
To add a comment or view other people's comments on this post, simply click on “link to this post.”
In previous blogs you will know how I have commented on how so called “arrangement fees” have gone ever higher.
They are now so ridiculous that the lenders have now dropped the term “arrangement” when referring to these fees - possibly for fear of being done by the trade descriptions people.
I have also shown in past blogs how you can save money on mortgage lenders’ rip off valuation fee by going straight to a surveyor for a valuation or survey and also, how, by making a simple call to your lender you should be able to reclaim previously unfairly high arrangement fees.
But still the lenders come up with ever more smart ways of making money.
I have just realised that my lender now deducts interest in advance, rather than in arrears. They put this sneaky change in around June 2005.
How much extra did that clever idea make for them I wonder? Quite a lot, I suggest.
ABOUT DAVID LAWRENSON and LETTINGFOCUS
LettingFocus.com are the experts on landlord issues and I’m David Lawrenson, the author of “Successful Property Letting” – which has been the UK’s top selling property and buy to let book for the last 3 years.
We help landlords and property investors make money in property by coaching them in ways that work, that are ethical and which involve minimal risk.
I have been a landlord and property investor myself for over 25 years.
At LettingFocus we offer independent unbiased buy to let advice for property buyers and landlords both on a one to one mentoring and coaching basis as well as through occasional group seminars.
Property syndicates and property advice in the UK is still largely unregulated and “advice” is more often more about making the promoter money than giving useful information
With no link to property firms, developers or bridging loan providers, at LettingFocus, we aim to give unbiased independent advice on where and what type of property to buy for investment, when to buy and how to buy property at a low price.
We also show you how to manage tenants properly and in ways that take up as little of your time as possible.
CHECK OUT THESE PAGES AT OUR SITE LETTINGFOCUS.COM:
THE HOME PAGE OF THIS BLOG click here: Blog
THE HOME PAGE OF OUR MAIN SITE click here: LettingFocus Home Page
NEXT SEMINAR AND NETWORKING EVENT for Landlords and Property Investors:
Next Property Investing Seminar and Networking Event
We have GREAT OFFERS on a range of products for landlords too; click here including landlords insurance, tenant referencing, tenancy agreements and more: Services and Products for Landlords
For general info on our SEMINARS AND CONSULTING click here: Property Seminars, Networking Evenings and Consulting
ONE TO ONE PRIVATE CONSULTING click here: Property Mentoring
CLIENT TESTIMONIALS from past customers click here: Testimonials
BUY THE BOOK click here: Buy the Book at Amazon
To JOIN our Free QUARTERLY NEWSLETTER simply send an email to david@LettingFocus.com - Please note we WILL NOT send spam or sell our mailing list to advertisers!
IF YOU HAVE A SITE WHY NOT LINK TO THIS BLOG OR OUR WEBSITE?
Selling services to landlords and property investors and have a national coverage? You could be a partner, please get in touch!
TO VIEW RELATED POSTS select a “Category” at the bottom of this page.
WANT TO ADD A COMMENT OR VIEW OLD COMMENTS?
To add a comment or view other people's comments on this post, simply click on “link to this post.”
Labels: buy to let mortgage, buy to let mortgage rates, landlord information, mortgage interest
This entry was posted by lettingfocus, on
Wednesday, July 18, 2007.
