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Woolwich Give Money Away


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Bad news, but came across this:

http://www.mortgageintroducer.com/mortgage...ding_policy.htm

The policy changes will 'provide a simplified and more competitive approach to rental calculation in the BTL market' according to the lender.

The minimum interest cover will reduce from 125 per cent of a nominal rate of 5 per cent, to 105 per cent of the pay rate of the product selected for all customers. For example the new approach based on a mortgage of £200,000 on Woolwich's 5.49 per cent two-year fixed rate would require a monthly rental income of £960.75, as opposed to £1,041.66 under the previous policy.

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Proof of income and proof of mortgage payments will not be required on individual loans up to £500k, LTV under 75 per cent and where a customer’s Woolwich BTL aggregate debt does not exceed £1m . In addition for these customers there will no longer be a requirement to have a minimum income of £20,000.

but you must have a pulse.

:lol:

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Bad news, but came across this:

http://www.mortgageintroducer.com/mortgage...ding_policy.htm

The policy changes will 'provide a simplified and more competitive approach to rental calculation in the BTL market' according to the lender.

The minimum interest cover will reduce from 125 per cent of a nominal rate of 5 per cent, to 105 per cent of the pay rate of the product selected for all customers. For example the new approach based on a mortgage of £200,000 on Woolwich's 5.49 per cent two-year fixed rate would require a monthly rental income of £960.75, as opposed to £1,041.66 under the previous policy.

I have just added the Woolwich to my list of turd companies. Those who have any money with them needs their head examined.

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For example the new approach based on a mortgage of £200,000 on Woolwich's 5.49 per cent two-year fixed rate would require a monthly rental income of £960.75, as opposed to £1,041.66 under the previous policy.

Which will be faked income and not checked of course.

Last night I saw for the first time an advert for B&B Buy To Let. Have those ads been running some time or just started?

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Which will be faked income and not checked of course.

Last night I saw for the first time an advert for B&B Buy To Let. Have those ads been running some time or just started?

Been showing a couple of weeks in my part of the country, a demon with an angels face.... I want a buy to let now, damn it :angry:

:lol:

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