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Sunday, November 13, 2011

Growing demand for variable rates

Andy Young the Chief Executive of TBMC comments on the trend for landlords taking out variable rate BTL mortgages  - 

“Continuing the trend since the beginning of 2011, the last quarter saw a further increase in the proportion of buy-to-let applications for variable rate products. This reflects the weight of expert opinion that Bank of England base rate will remain low for some considerable time, certainly well into 2012. In quarter three 62% of applications received by TBMC were for variable rates with just 38% for fixed rate mortgages.”

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