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TMW lowers rental income ratio on B2L deals

The previous ratio was 130%, which has now dropped to 125%. This will be based on a nominal rate of 5.99% or the actual pay rate if higher up to 80% LTV.

Paul Howard, associate director for Portman Group Intermediary says that after the recent interest rate rises it didn&#39t seem right to factor in more service interest. He says: “We still have confidence in the buy-to-let market. Surveys show the sector is doing well. I feel we are near the top end of the interest rate cycle and, while the Bank base rate has gone up several times in recent months, we have covered this in our calculation. There is an inherent strength in the buy-to-let market. We have re-addressed the calculation on our buy-to-let products to reflect market expectations on interest rates.”


Property still the favoured investment, says GMAC-RFC

It is clear from the research that the public still have much more confidence in property than other forms of investment methods. Nearly half of those questioned (46%) consider property to be the best form of investment in the current financial climate, compared with just 14% who plumped for the security of a building society […]

MS Live event returns to Manchester

The event will consist of presentations, focussed seminars and workshops and an exhibition of the biggest names in the business. As Mortgage Day nears a special industry panel debate will discuss the future of the industry. Panel members will include Chris Cummings, director of the Association of Mortgage Intermediaries, Rob Clifford, managing director of Mortgage […]

Housing market confidence on downward trend, says Woolwich

The fall in confidence demonstrates that recent interest rate rises have had a significant impact on the housing market. The Woolwich index shows that 56% of homeowners believe their property will continue to increase in value compared to 62% in July and 65% in June. This is the largest month-on-month drop since the Woolwich started […]

No room for misunderstanding in the FSA world, warns AMI.

Intermediaries who do not fully understand the FSA&#39s rules for mortgage advice will face harsher penalties than ever before after Mortgage Day, The Association of Mortgage Intermediaries has warned. From October 31, intermediaries offering mortgage advice must be fully aware of the new FSA requirements. These requirements go far beyond those that currently exist under […]

Embrace simplicity!

By Fiona Holmes, proposition communications manager When I first took out critical illness cover, I was overwhelmed. It wasn’t just the form filling, it was finding out about the sheer number of illnesses I was covered for. Did it give me peace of mind that I was covered for neuromyelitis optica or systematic lupus erythematosus? […]


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