Friday, July 6, 2007

Speechless

Self cert buy to let mortgage launched by Kensington

The Kensington Self-Cert Buy to Let product is designed to help the thousands of homeowners, who do not need to rely on rental income to cover their buy to let mortgage repayments because they have the excess personal income to service another mortgage.

Posted by converted lurker @ 12:22 PM (1571 views)
Please complete the required fields.



7 thoughts on “Speechless

  • Surely they must be very wary as the FSA is shining their light directly into this dark corner right now – they had better be very careful!

    Reply
    Please complete the required fields.



  • noone is worried about the FSA

    but Kensington is admitting, implicitly, that buying a BTL based on yield alone is not possible anymore
    so reaching for one’s pocket to subsidize the tenant is the way to go
    thank you Kensington, thank you foolish landlord

    yours sincerely,
    a tenant

    Reply
    Please complete the required fields.



  • converted lurker says:

    I’d go a bit further TBH, it’s an admission that BTL has never been about yield, but only capital appreciation (or loss). It should have always been termed BTS – buy to specuLET

    Reply
    Please complete the required fields.



  • dohousescrashinthewoods says:

    SUB PRIME?

    (Can’t wait for rents to come down so I can move into a nicer, more central place ;))

    Reply
    Please complete the required fields.



  • Sounds like desperation to me. A bit like making a hole in the bottom of your sinking boat to let all the water out.

    Reply
    Please complete the required fields.



  • Long may it continue. I guess I should feel sympathetic, but anyone who’s considering subsidising a loss making investment needs a wake up call.

    Reply
    Please complete the required fields.



  • Can I see that someone is going to get a big bonus based on mortgages taken out.
    No concern about the loss made by the investor or even the bank in the long run.
    Greedy chap will make his money and disappear leaving others to pick up the pieces.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>