The largest lender in the buy-to-let market, the Lloyds Group which includes the brands Birmingham Midshires, Cheltenham & Gloucester, Halifax, Bank of Scotland & Lloyds has just announced from 24 September, next Friday, that they will be reducing the number of properties they will lend on from nine to three.
This means that if you have 3 or more mortgages within the Lloyds Group you will no longer be able to use them to purchase properties. Currently the Lloyd’s Group has the best buy-to-let interest rates which require a 25% deposit.
This is a massive change to the mortgage market and any investor looking to purchase this year with 3 or more properties within the Lloyds Group should consider purchasing NOW.
If you wish to expand your property portfolio, call Tara on 016 448 2154