The Sunday Times - Lenders target landlords in bid to boost profits - September 2013

Last week West Bromwich, the seventh-largest building society in the country, wrote to 6,700 landlords to say it would be increasing the rate on their tracker deals by two percentage points from December. Aaron Strutt of Trinity Financial, another broker, feels it may be worth abandoning tracker loans to avoid the risk of these changes. Many borrowers, he said, may be inclined to stick with their low rate until they receive a letter saying repayments are rising, “but it may make sense to remortgage to a lower fixed rate”. Virgin Money has a two-year fix for buy-to-let investors at 3.38%. It requires a 40% deposit and has a £1,995 fee. You will need a subscription to access the full story: http://goo.gl/HXBQc6 £ September 29, 2013