Category Archives: Buy to Let Mortgages

Applying on a Buy to Let Mortgage for a House you Intend to Live In

David Lawrenson of LettingFocus.com explains why more borrowers will try to “game” mortgage lenders by applying on buy to let mortgages for loans on properties that they intend to live in themselves. One of the likely outcomes of the Mortgage Market Review (MMR), which now applies to all residential loans, is that getting a mortgage for residential mortgages might prove […]

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Our New Newsletter Is Out in January… and a Word About Ethics in the Business of Being a Landlord

We are now closing for the Christmas and New Year break. However, our still free, new quarterly newsletter will go out in the first or second week of January, so look out for this and remember to put our email address, david@lettingfocus.com in your whitelist to ensure you receive it. If you don’t already get the newsletter but would like […]

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Mortgage Tracker Rates Open Letter to Andrew Tyrie MP

In this letter to Andrew Tyrie MP I ask him to take action to stop mortgage lenders cheating their buy to let Bank of England (BOE) mortgage tracker rate customers by invoking small print terms in separate documents that were never meant to apply to BOE tracker loans. I have highlighted this by illustrating from my own personal experience with […]

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West Bromwich Building Society Mortgage Rate Hike

David Lawrenson, private rented sector expert and director of LettingFocus.com, highlights the risks to lenders of invoking terms in the small print of mortgage contracts to hike landlords’ tracker mortgage rates. At previous blog posts we predicted that it was likely that other lenders would follow the Bank of Ireland’s move in hiking interest rates on buy to let mortgage […]

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London Assembly Calls for Longer Term Tenancies

At LettingFocus we are pleased to see our evidence to the London Assembly on the private rented sector was accepted and made it through as a key recommendation. The London Assembly has issued another report on the private rented sector – this time calling for the mayor to intervene in the capital’s private rented sector to “stabilise rents” and encourage […]

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When is a Tracker Mortgage Not Really a Tracker Mortgage and How More Lenders Are Giving Themselves Get-Out Clauses

David Lawrenson of private rent consultants, LettingFocus.com explains how mortgage lenders have now set up get out clauses within their tracker mortgage deals which are so wide that the industry could eventually be forced to stop marketing them as tracker deals. He also predicts that the Bank of Ireland “rate hike” case will result in a victory for those landlords […]

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Bank of Ireland Mortgage Move Destroys Trust

David Lawrenson of www.LettingFocus.com says the move to hike rates on some Bristol and West Tracker Mortgages looks wrong – and destroys confidence in all lenders. When I speak to people who want to sell services to private landlords (which includes organisations like local authorities and housing associations that desperately need private rented sector landlords to make their houses available […]

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Mortgage Loans and Housing Benefit and Why a Selective Approach is the Better Option

David Lawrenson of www.LettingFocus.com observes the latest mortgage lender U turn on allowing landlords to let to housing benefit tenants, but says that rather than a “blanket” approach of either allowing or not allowing landlords to do this, a better way would be if lenders “selectively” allowed it – with the decision linked to other variables such as landlord experience […]

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Nationwide Mortgage Works Housing Benefit U Turn

David Lawrenson of Private Rented Sector Consultants LettingFocus.com looks at why some mortgage lenders don’t want to allow landlords to let to tenants who are dependent on housing benefit to pay their rent. Last week, at this blog, I looked at Nationwide’s new policy (for the Mortgage Works) to not allow landlords taking out mortgages or remortgages with them to […]

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The Impact of Landlord Regulation on Buy to Let Mortgage Terms, Conditions and Availability

Many buy to let mortgage lenders are still not “ahead of the curve” in terms of understanding the impact of legal and regulatory changes in the private rented sector – and this often leaves their own businesses exposed to losses, says David Lawrenson of private rented consultancy, www.LettingFocus.com In an interesting piece in Joanne Atkin’s “Mortgage Finance Gazette”, Paul Walshe […]

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