Stuck on a BTL mortgage forever?
Discussion
Per the forthcoming EU mortgage affordability rules due to be implemented March 2016, does this mean that for those currently on a fixed BTL deal, that once this ends and reverts to SVR, you may well be stuck on that specific lenders SVR forever.....?
Currently a lot of BTL mortgages are assessed on the ability of the rent to cover the mortgage, however, this would appear to being forced out of the window, to be replaced with typical "affordability" criteria (per main residence type mortgages.....). Doesn't bode well reading between the lines.
http://www.moneysavingexpert.com/news/mortgages/20...
Sarnie - What are your views on this?
Currently a lot of BTL mortgages are assessed on the ability of the rent to cover the mortgage, however, this would appear to being forced out of the window, to be replaced with typical "affordability" criteria (per main residence type mortgages.....). Doesn't bode well reading between the lines.
http://www.moneysavingexpert.com/news/mortgages/20...
Sarnie - What are your views on this?
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