Private Rented Sector Buy to Let Consultants
Incredibly, two weeks ago, the West Bromwich Building Society won a case in the High Court allowing it to increase margins on tracker rate mortgages, despite their being no increase in the Bank of England base rate, says David Lawrenson of LettingFocus.com. This has huge implications for all mortgage borrowers with a potential cost up to £2,000 million per annum in […]
Read moreLettingFocus looks at mortgage lenders and the FCA – and shows why lenders got things so wrong in the past. If you have read my past blogs you will know of the “class action” shortly to commence against West Bromwich Building Society (WBBS) who have broken their contract with buy to let mortgage borrowers and reneged on some of their old […]
Read moreWest Bromwich – your time is soon up. Time to face the music in the courts. I certainly hope that your executive will have a good explanation for your members to explain why you blew hundreds of thousands of pounds fighting and losing a court case, after you singularly failed to bully individual buy to let borrowers on Bank of […]
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Read moreIn 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 […]
Read moreDavid 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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