UK Money News
20th December 2007
Let-to-buy 'is a redundant product'
Let-to-buy mortgages have been made somewhat redundant by the success of the buy-to-let market, it has been claimed by one specialist.
Landlord Mortgages states that associating let-to-buy with buy-to-let is a common misconception - but that the former is actually a residential mortgage on the owner's own home.
It relies on the lender considering the owner's first home to be self-funding through the rental income achieved when the occupier moves to their new property.
However, the firm states that most lenders require buy-to-let mortgages to be self-funding - meaning that let-to-buy as a means of providing help with money has not developed significantly.
"If most mortgage lenders that lend you a mortgage on your home consider buy-to-let to be self-funding anyway, then do you really need a let-to-buy scheme? ... They've been made redundant," comments Lee Grandin, director of the company.
The money news follows statistics from Nationwide Building Society indicating that ten per cent of respondents to their survey owned a second home, while a further 14 per cent would consider purchasing another property.
back to December's Money News
This article and more Latest Money News can be found on MoneyCrocodile.co.uk
Personal Loans from UKPersonalLoans.com
Personal Secured Loans for Homeowners and Personal Tenant Loans for Non-Homeowners. You can apply online for an Any Purpose Loan or Personal Debt Consolidation Loans or use one of our Loan Calculators.
Debt Advice from ReduceDebt.com
Debt problems? Refused a loan? Got CCJ's or Arrears? Get the best advice and help by enquiring online. Our Debt Professionals will help you whatever debt problems you have. Some of the options available to you are Debt Management, Debt Consolidation, Debt Couselling and IVAs,
UK Personal Finance from MoneyCrocodile.co.uk
UK Online Personal Finance site covering: Loans, Mortgages, Credit Cards, Insurance, Debt Advice, Bankings and Savings, Finance Tools and Money Jargon. We also cover Any Purpose Loans, Secured Loans, Personal Loans, Tenant Loans, Car Loans and Debt Consolidation Loans. If you are looking for Personal Finance let Money Crocodile put a smile on your face.
Car Loans from GBCarLoans.com
Don't just accept the dealers finance - get a quote from us before you buy!. UK Car Loans for New Cars or Used Cars: Supermini, Small, Hatchback, Saloon, Estate, MPV, 4x4, Sports, Luxury, Executive, Cabriolet or Classic Car.
Tenant Loans from TenantLoan.com
If you're looking for a low cost tenant loan, then look no further. We aim to find you a highly competitive interest rate and you can borrow anything from £5,000 and £250,000 with up to 25 years to pay.
