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Welcome to MFB-TV on Wednesday 10th April. Well, I hope you all had a good Easter and
hopefully snow, blizzards and other distractions of cold weather behind us we can look forward,
finally, to a decent spring. Since we last spoke, we have been out and
about at industry awards and we have been very fortunate to win at the Mortgage Strategy
Awards Best Buy to Let Broker and at the prestigious Business Moneyfacts Awards on the 23rd March,
for the second year running, we won Buy to Let Introducer of the Year. This award is
particularly close to our hearts because it is determined by an independent panel and
it is not influenced by people within the industry.
Out today are the results of our Complex Buy to Let Index for the first quarter of 2013
and a couple of highlights for you. We are seeing an increasing number of remortgages
across all property classes and gross yields remain particularly strong. Vanilla landlords
can still enjoy 6.4% although you would recall I have cautioned at some points that is going
to have to come down and HMOs, as you would expect, are still running strong at more than
10% at 10.5%. And of course, those favourites of ours, the MUFBs (Multi-units in freehold
blocks) are running at 7.7%. Also out today in electronic format is FirstRate
which casts not only this index but a whole lot of industry topics and relevant news and
issues for you to get your teeth into. Plus, as usual, examples of deals we have done for
other customers to which you may relate to and say: ‘Hey guys, that would be quite
useful, I’ll give you a call’. Now, next week we are out at the Bristol Landlord
Show which takes place, as ever, at the University of the West of England on the M4 / M32 junction
and we will be represented there on the 18th April by our Keystone team, they will be able
to help you with other mortgage enquiries. An our product for this week from the marketing
team is to bring your attention to the increased number of options for mortgages above 80%
where pricing has now come down below 5%, so today we are offering out a two-year fixed
at 80% at 4.98% with a flat fee of £1,999, which if you are borrowing £200,000 or thereabout
represents a fee of 1%, that starts to feel like market of old. That comes from Aldermore
Mortgages and it is only available thru’ intermediaries.
So do give our brokers a call on 0845 345 6788