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Tuesday, June 09, 2009

The RLA has warned BTL borrowers that mortgage lenders may try to change their rates as property values fall


The Residential Landlords Association has warned landlords that BTL mortgage lenders could try to change BTL mortgage borrowing rates if falls in property prices continue.

This would leave many landlords stranded between a rock and a hard place.

Some BTL mortgage agreements allow mortgage lenders to change rates if there is a dramatic change in the LTV).

Read more in FT Advisor

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