PMA Latest News
Viewing entries tagged with 'mortgages'
Last week, the Bank of England announced it was raising its base rate from 0.5% up to 0.75%. This is only the second base rate rise in a decade, and financial advisors are busy calculating the impact it’s going to have on mortgages, savings and the property market.
The first thing property investors should know is that buy-to-let lenders typically want rent to cover 125% of the mortgage repayments. The second thing is that you can only borrow 75% of the property’s value, and many lenders are now demanding even larger deposits.