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Thursday, January 22, 2009

Mortgage Express - passing the buy-to-let buck

Here's a sign of the times.  Mortgage Express one of the largest of the buy-to-let lenders and part of the now Nationalised Bradford and Bingley is offering to wave any early repayment charge (ERC) between the dates of 1st February 2009 to 30th June 2009.

Need buy-to-let insurance in 09 - check out these discounted rates

After years of trying to get landlords to borrow more they are now trying to get landlords to shrink their mortgage.

Even more interesting is their statement in a recent letter which states:

"If you decide to move your mortgage to another lender, we will support this process and make things as easy as possible for you."  This includes waiving the ERC.

How times of changed.  Rather than fighting for your business lenders are fighting to get rid of us.

It's nice to be wanted!

1 comment:

Anonymous said...

It's also interesting that Mortgage Express are sending these letters to customers who are about to end a rate product, yet the letter makes little or no reference to MX's current SVR which is a base rate tracker...and is low!