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To be fair - I was actually in agreeement with Anon1!
Lets say a 3% set up fee and £500 valuation fee..
Generous 0.9% per month interest rate...
and then normal re-mortgage fees in 20 months time (as you will NOT want to be late in the re-mortgage occuring).
Great Fees for Brokers and Lenders - but will the landlord make any money from it?
Yes, for some properties it may be OK to kick the can down the road.... but as a general thing - I don't think this is very good and will be great to see the Value for Money Assessment they would have to do, if it was a regulated product.
Ooops - did I really say thay - it's unregulated, so we can charge what we like.....
