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Platform
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sammy66
Posts: 72 Forumite
was hoping to do a remort to free up some money but tied in till another year with Platform. House worth £150,000 mort £88,500
BTL, rent is £525 per month, just looking on Platforms site to try and work out if I could get some extra. There is a calculator where u can put in your rental amount and the pay/reversionary amount. Not sure what the reversionary amount is, in the corner of the screen it says BTL 5.00% BBR +4.5%. Can anyone advise please, thanks
BTL, rent is £525 per month, just looking on Platforms site to try and work out if I could get some extra. There is a calculator where u can put in your rental amount and the pay/reversionary amount. Not sure what the reversionary amount is, in the corner of the screen it says BTL 5.00% BBR +4.5%. Can anyone advise please, thanks
0
Comments
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The reversionary amount is what your mortgage payment will become when the current rate deal ends. You need to check the KFI you got when you took it out to see what the rate will be, or how it's calculated.
ie - it may be the base + 4.5% you mention.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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