Friday, July 29, 2011

Mortgage rates up for BTL ?

Bradford & Bingley hit by interest rise from Treasury

Loans taken during banking crisis by B&B must now be repaid at rate of 5 percentage points above base rate, up from 1.5 The Treasury has raised the rate of interest on loans used to prop up Bradford & Bingley (B&B) during the banking crisis, in a move that will accelerate payments to the Exchequer. The increase in the interest payment – from 1.5 percentage points over base rates to five – was revealed as the taxpayer-backed company that owns B&B's mortgages and Northern Rock Asset Management (NRAM) – the "bad" part of the Newcastle-based lender – said it had paid back

Posted by khards @ 03:10 PM (1113 views)
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One thought on “Mortgage rates up for BTL ?

  • Thecountofnowhere says:

    You mean they want a return above inflation….dont we all !!!!!!

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