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Buy To Let Mortgages
When considering a variable rate mortgage, you should seek products from lenders who offer a visible pricing structure.
For example, some lenders calculate interest rates at a margin over the Bank of England minimum lending rate (otherwise known as bank base rate).
Many lenders prefer not to offer mortgages on this basis as they are then tied to a fixed level of profitability.
However, from a borrowers perspective, a visible pricing structure is the only sure way of knowing that your lender is not going to increase your interest rate just because they have lost their appetite for a certain sector of lending.
Be cautious and be sure that you know the basis of how your lender calculates their variable interest rates.
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