BM mortgages enhances range of buy-to-let trackers

With the Chinese making moves and entering the UK buy-to-let mortgage market this will have hopefully shaken up some of the big UK lenders who have been content to write business with big fat lending margins but nothing else. The prospect of the Chinese muscling in on the lending market with their huge financial resources may well prompt the UK buy-to-let lenders into offering more competitive markets for the fear of being crowded out of their home market.

Landlord insurance - instant quotes - professional rates

That may well have been the thinking behind the launch of Birmingham Midshires latest range of buy to let mortgages. They have launched this week a 2 year tracker product with a low 4.15% rate, just marginally above the Bank of China's 3.5% lifetime tracker. The downside is the fee at 3% which makes it expensive for larger advances. LTV is only 60% but Birmingham Midshires will lend upto a portfolio of 9 properties. There also offer a 4.7% rate for landlords wanting a higher LTV.


VARIABLE TRACKER RATE MORTGAGE of 4.25% for 2 years withdrawn & replaced. NEW VARIABLE TRACKER RATE: 4.15% for 2 years, max 60%, fee 3% + £275, BBR + 3.65% for 2 years. FIXED RATE MORTGAGES of 7.00% to 1.9.14 & 5.40% to 1.9.12 withdrawn. NEW FIXED RATE MORTGAGES: 5.40% to 1.12.11, max 60%, fee 2.5% + £275; 6.15% to 1.12.12, max 75%, fee 2.5% + £275. END-DATES on all remaining FIXED RATES extended to 1 December. W.e.f. 25.7.09.









Free property management software, Free tenancy agreements