For those that follow the buy to let mortgage market closely, there has been a small bit of good news over the last few days (and I mean small). Far be it from me to use the term ‘green shoots’ (more like - less manure), but first we saw BM Solutions add some more 75% products to the market, and Bank of Scotland actually re-entered the 75% market with a new 5 year fixed rate. This is the first positive step from a lender in months.

I’ve also heard (on the shrivelled grapevine) that the asset protection scheme has already started to help free the flow of lending, and one of our well known lenders is doubling their daily lending limit from April. What does this mean? Could be less stringent credit scoring. Could be better rates.

Just one more bit of gossip before we start talking about rates. Have you heard that Abbey has written to over 6000 solicitors and conveyancers to tell them it will no longer be needing their services? A spokesman for Abbey says: “Following a recent review of our residential mortgage conveyancing panel, we can confirm that we have written to a number of firms that have undertaken few or no transactions with it over the past year to advise them that we will be removing them from our panel”. Ouch.

Tip of the week – don’t be bullied!

We still receive lots of calls from many of you that have received letters from Mortgage Express in the last couple of months. For those that don’t know, they are offering the ability to waive the repayment fees and remortgage immediately with another lender. These letters tend to be written very ‘dry’ and almost indicate you will have to move after you’re fixed/discount period ends. In all the circumstances I have investigated this is not the case – they want you to move but would find it very difficult to make you move. They might want their money back, but don’t feel bullied. In most cases you are far better to stay where you are, as their SVR is a tracker and is now at an all time low.

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