Any landlord who has 'arrived' at their 'middle years' will probably remember the pop ditty by the Vapors proclaiming the arrival of the Japanese as an economic and cultural world force.
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Things move on....It's now the Chinese that are coming. A report in the FT at the weekend herald the arrival of the Bank of China into the UK buy-to-let mortgage market.
Their offering is a very competitive 3.5% lifetime tracking buy-to-let mortgage. Max LTV 65%, Application fee of £1495. The buy-to-let mortgage is only available on a repayment basis. Max loan £1m, min £35k, 100% rental cover.
With lending margins in the UK at historically high levels and property prices stabilising, the UK promises rich pickings for lenders. The chinese know this and landlords should expect further buy-to-let mortgage products from the Chinese in the coming months.