Monday, April 14, 2008
This is huge!! BTL will have to inject extra capital into their homes, under an obscure clause in their mortgage contracts
Both Bradford & Bingley and HBOS-owned Birmingham Midshires, the two largest buy-to-let mortgage providers, each with 20pc of the market, require customers to top up their initial deposits if falling house prices mean the size of their mortgage rises above 85pc of the value of the home. THIS IS [email protected]*KING GREAT NEWS!!