Rumours abound this week about the demise of the 75% LTV mortgage. I’m not even sure who’s spreading them, but they’re doing a good job.

Looking at the main 75% buy to let players it is very heavily weighted towards two lenders – BM Solutions and Cheltenham & Gloucester. With the demise of Bank of Ireland and Bristol & West, 75% LTV is a shrinking market so I wouldn’t be surprised if it doesn’t eventually happen – although officially from our contacts there are no immediate plans.

What does this mean for you? Well I would make the assumption at some point it is going to happen, and therefore plan accordingly. I would, in particular, imagine new-build loans to be first on the chopping board.

Remember, in certain circumstances we can offer 80% buy to let mortgages (with no ERC’s and only a £499 arrangement fee), but you will need to speak to one of our advisers to see if you qualify. 

Tip of the week - Get yourself insured against the recession.

I just wanted to reiterate our post of last week. If you are employed and currently concerned you may lose your job please read on.

Unemployment cover is in the process of being withdrawn from all the main providers at the moment so if you want to cover yourself now is the time to do it.

An example: You work in an office on £32,000 a year. For £50 a month you would be able to get cover of approximately £1492 a month for 12 months should you be made redundant. After the first year you could review where you are and if you feel you no longer need it then cancel it - simple as that.