Channel 4 TV need a landlord
Alan Ward -
Anthony Baxter writes:
We’re making a film for Channel 4 about the current credit crunch and how it’s affecting people with buy-to-let mortgages.
The cost of mortgaging is creeping up – and borrowers have to have a lot of equity available to get the best deals. I’d be particularly interested in speaking to one of your members, who may have bought a flat in the last couple of years.
How will they going cope with the increase in interest payments – will their rent cover this? Also, with lenders increasingly only willing to lend a maximum of 75% LTV ratio (and on new builds as low as 50%) will they have the equity to put down the minimum required? And in the case of a new build purchase, have they seen the value of their property fall?
Leeds is a city which has seen a terrific explosion in the building of flats over the last 5 years, and so we may well focus on it as an example so would be particularly interested in speaking to somebody there.
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