HELP!!!!...Bradford & Bingley Buy-To-Let Mortgage

FeelingSkint_2

Hi,

I wonder if someone could help me clarify something.

I have a buy to key wih B&B foo about 63K.

I called today because o was making a Lum Sum Payment and was just chatting with the girl and she told me something interestin.

Currently OI am paying a fixed rate till Oct of 5.84 on the buy to let.

She told me that once the period is up, the interest rate will drop 2.09 percent about base rate.

Did i hear correclty????

Has anyine else recently come out if a buy-to-let deal with B&B and could varify this for me????

Thanks

Robert_Sterling_3

When is October 5.84 ?

FeelingSkint_2

Sorry, don't understand.

Currently I am paying a fixed rate till Oct 09 of 5.84% on the buy-to-let.

hearts

Yep. Your rate reverts to BoE base + 2%

Never expecting the rates to drop as far as they have. Banks offered fixes that at the end of the fix revert to BoE base +x%. This would normally have worked in their favour. IE 5% BoE base you pay 7%. Luckily for you and many others things aint worked out quite that way. ;-)