{"id":293,"date":"2010-10-01T08:04:09","date_gmt":"2010-10-01T08:04:09","guid":{"rendered":"http:\/\/blog.legal4landlords.com\/?p=293"},"modified":"2010-10-01T08:04:09","modified_gmt":"2010-10-01T08:04:09","slug":"september-btl-update","status":"publish","type":"post","link":"https:\/\/dev.withcreative.co.uk\/lforl\/september-btl-update\/","title":{"rendered":"September BTL Update"},"content":{"rendered":"

By:
\nMadalena Penny<\/p>\n

Lloyds Banking Group has announced a change regarding their buy-to-let policy.\u00a0 In a bid to limit their lending in the Buy-to-Let sector, the group are now only permitting 3 properties per landlord, a stark contrast to their previous lending pattern of 9 properties per portfolio.<\/p>\n

In the current economic climate, rented accommodation is increasingly popular making the private rented sector particularly buoyant.\u00a0 Landlords with properties already funded by Lloyds looking to increase their portfolios are concerned they may have to look elsewhere for further lending.<\/p>\n

The Council of Mortgage Lenders reported that Buy to Let lending was up 13% in Q2 of this year with 24,900 mortgages recorded showing a value of \u00a32.4 billion in this sector and which attributed for 12 per cent of all mortgage lending.<\/p>\n

While the number of BTL products are still woefully far less than the number available in 2007 (a decline of about 89%), there are still some good deals being offered.<\/p>\n

    \n
  1. The Mortgage Works have 5 loans<\/a> available at fixed rates.\u00a0 There one-year fixed is set at a low interest rate of 2.99% with an LTV of 60% and with a fee of 3.50%.\u00a0 Their two-year fixed is at 3.49% with a 70% LTV and again a 3.50% fee.\u00a0 Another package they offer is again two-year but fixed at 5.94% with a 60% LTV but with no fee payable.\u00a0 Their final fixed rate product is for 3-years at 4.99% at 60% LTV and a 3.50% fee.<\/li>\n
  2. The Post Office are offering a three-year fixed rate at 6.19% at 60% LTV with no fee.<\/li>\n
  3. Principality BS have a two-year fixed at 4.89% at 70% LTV with a fee of \u00a3999.<\/li>\n
  4. Godiva\u2019s three-year fixed is at a low LTV of 50% at a rate of 4.49% but with no fee.<\/li>\n
  5. Yorkshire Bank\u2019s five-year fixed is good value with an 80% LTV and fixed at 80% with a \u00a3999 fee.<\/li>\n
  6. The Mortgage works have some good deals on trackers with their two-year stepped package set at 2.99% (base rate + 2.49% in year one, base rate + 3.74% in year two), with a LTV of 60% and a fee of 3.50%.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    By: Madalena Penny Lloyds Banking Group has announced a change regarding their buy-to-let policy.\u00a0 In a bid to limit their lending in the Buy-to-Let sector, the group are now only permitting 3 properties per landlord, a stark contrast to their previous lending pattern of 9 properties per portfolio. In the current economic climate, rented accommodation […]<\/p>\n","protected":false},"author":2,"featured_media":11204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[59],"yoast_head":"\nSeptember BTL Update - Legal For Landlords<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.withcreative.co.uk\/lforl\/september-btl-update\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"September BTL Update - Legal For Landlords\" \/>\n<meta property=\"og:description\" content=\"By: Madalena Penny Lloyds Banking Group has announced a change regarding their buy-to-let policy.\u00a0 In a bid to limit their lending in the Buy-to-Let sector, the group are now only permitting 3 properties per landlord, a stark contrast to their previous lending pattern of 9 properties per portfolio. 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