Monday, September 24, 2007
BTL market unravelling fast!
Budding property investors are in for a rude awakening. Paragonhas increased its rates, while the Mortgage Trust has launched a buy-to-let fixed mortgage that charges a huge 5 per cent fee and levies early redemption penalties for four years after the fixed-rate period ends. One broker called it a "truly appalling produc". House prices dipped in August for the first time in two years, and confidence in the price outlook dropped to its lowest level since June 2005.