Ray Boulger, senior technical manager at John Charcol, said: “Far from being propped up by legions of cautious first-time landlords, the market is dominated by professional investors.”
BDS appoints head of compliance
BDS Mortgages has appointed Mike Davies as head of compliance. He joins BDS from Bank of Ireland where he was formerly head of compliance and legal services for the Bank’s joint venture with the Post Office.
L&C launches two-year fixed rate
London & Country (L&C) has launched a two-year deal fixed at 4.48 per cent. It offers up to 95 per cent loan-to-value, an arrangement fee of £495 and a refunded valuation and free legal work for remortgages.
There are Early Redemption Charges for the first two years and following this the rate reverts to 1 per cent above Bank Base Rate for the remainder of the loan.
James Cotton, mortgage specialist at L&C, commented: “This new deal will give many people the ability to switch to a new deal without incurring high set-up costs.”
