Two more Buy to Let lenders in the firing line

Time concept: arrows in Hourglass target on wall backgroundFollowing a recent court ruling, which saw West Bromwich Building Society forced to refund over £27 million to Buy to Let investors, two other mortgage lenders are now facing legal action. Buy to let investors who have mortgages with Skipton Building Society and Bank of Ireland are set to mount a legal challenge, which if successful, could see large refunds, similar to those paid to customers of the West Bromwich Building Society. The action by investors follows he decision of both Skipton Building Society ...

SIPPs: Bank of Ireland to pull out of SIPP deposit account market

Bank of IrelandSIPP savers have been dealt a blow as a major provider of SIPP deposit accounts announces they are to pull out of the market. For the past few years, SIPP (Self-Invested Personal Pension) savers have had to contend with low interest rates and limited choice of accounts, a problem now made worse with the withdrawal of the Bank of Ireland. We understand that the Bank of Ireland has agreed with the ...

Buy to let: Thousands of borrowers face interest rate hike

iStock_000010528981XSmallThousands of buy to let investors are facing a hike in interest rates, which will significantly increase their monthly mortgage repayments. Despite Bank of England base rate remaining at 0.5% and with no movement expected by most financial experts for at least another three years, the West Bromwich Building Society has announced an interest rate rise for buy to let investors. The move means some 6,700 buy to let investors will see their interest rate rise by 2% from 1st December onwards; ...

SSAS: Deposit accounts for SSASs, what are your options?

iStock_000015874214_ExtraSmallThe Investment Sense website publishes the only in-depth best buy table for SIPP deposit accounts, but what are your options if you have a Small-Self Administered Scheme or SSAS for short? SSASs have had a resurgence over the past couple of years and with stock markets increasingly volatile we are getting more and more enquiries about the Cash options available. You’d be forgiven for thinking that if a bank or building society offers deposit accounts for SIPPs, then they will accept ...