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Welcome to MFB-TV on Wednesday 10th October. Well the marketing girls and boys are back
from their summer holidays and there’s positively a cavalry charge of new products as we gallop
towards the end of the year. Our product selection for you this week comes from Abbey for Intermediaries
at 2.75 per cent two year discounted tracker but only to 60 per cent loan to value. Naturally
it’s for the more vanilla investor and it does have a 2.5 per cent product fee but at
that price it’s well worth a look.
Elsewhere and out today is our quarterly edition of FirstRate which will cover the normal range
of topics including: some details on light refurbishment – is it better to take a light
refurbishment product rather than doing bridging? An interview with Jason Oakley, the new MD
on commercial lending at Metro Bank – you may have heard about them – the bank in
London with branches where you can take the dog in and have a water bowl and doggy biscuits
for your dog (not for you). But most importantly our quarterly Buy to Let Index is out and
there you can check your properties against all classes of buy to lets be they standard,
HMOs, semi-commercial or multi-unit freehold blocks. Interestingly, we are now seeing HMO
yields comfortably above 11 per cent. So there’s lots of good news and information in there
for you plus sample deals that we’ve done over the last quarter, that you may identify
with, where you’ve previously had problems.
Finally my technical team has been hard at work and the Apple app that we launched some
six weeks ago is doing well and we now have more than 700 downloads and signups to use
it. It is for free, so do please feel free to download it onto either your iPhone or
iPad and you can check out your next acquisition or next refinancing against some 500 products
we have in our main dataset at any point of the day or night. I’ll put out my bet to
you like everyone else – if you can break our system and show me how you broke it, I’ll
give you a bottle of the best Bollinger. Have a good week.