Inside track property

The mortgage arrangement fee is a fantastic marketing tool that the mortgage lender “kindly” allows us to add to the mortgage and it’s been so effective that in fact a lot, if not most of the mainstream buy to let lenders have introduced one.

Simply adding it to the mortgage apparently makes it OK to charge such an outrageously high fee. In some cases as high as 1.5%!

Some genius first introduced it (l bet they received a promotion) so that they could offer an incredibly low rate or as we call it in the industry the ‘headline’ rate. Don’t be fooled. Remember the adage if it’s too good to be true, it probably is.

Here’s how it works:

Click for the full article: Inside track property fact: why mortgage lenders never lose…