Lloyds buy to let mortgage announcement 'is restrictive'
www.moneynews.co.uk > Mortgages > Lloyds buy to let mortgage announcement 'is restrictive'
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Lloyds buy to let mortgage announcement 'is restrictive'
Mon 27th Sep 2010
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David Lawrenson, founder of LettingFocus.com, suggested there are plenty of people who have more than three houses associated with the financial institution.
In his view, it could restrict the market, since Lloyds offered a competitive rate to landlords and this move could spur other providers on to try to make larger profit through higher interest rates.
"There are not that many providers in the market and the mortgage rates that they are charging are quite high and so are the fees relative to residential," said Mr Lawrenson.
His remarks were made following the announcement by Lloyds that its buy to let mortgage customers will be limited to either three properties or £2 million worth of lending.
The firm claimed it will still be able to support the majority of landlords, even with these regulations in place.
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Related News : LloydsTSB |
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