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Article: Product matters: Rental health.(rental income)(Brief article)
- Article from:
- Money Marketing
- Article date:
- January 18, 2007
CopyrightCOPYRIGHT 2007 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Unfortunately for buy-to-let investors, rental income does not move in line with the Bank of England base rate. With interest rates rising again, landlords will see the difference between their rental income and mortgage payments reducing and some may already be supplementing the rental to cover the interest. It also makes it harder to meet lenders' rental calculations for prospective purchases.
Lenders have for some time been responding by relaxing rental criteria to help fulfil investors' requirements. GMAC has been one of the lenders offering more flexible criteria with a choice of rental assessments available for varying fees. Now it has launched a three- ...