In what ways is a Buy-to-let smaller amount regulated than a residential mortgage ?
I have heard that the BTLs are smaller quantity regulated than residential loans but I do not understand what that actually scheme ?
Answers:
The Financial Services Authority regulates residential mortgages, but not BTL (at the moment ! ).
From a consumer point of view what this really means, is that within is very little consumer protection if things go wrong. However what most lenders and brokers tend to do for BTL, is follow residential mtg guidelines although they dont obligation to.
I could be more technical but would need several page to reply - hope this helps. Source(s): Independent mortgage broker
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Answers:
The Financial Services Authority regulates residential mortgages, but not BTL (at the moment ! ).
From a consumer point of view what this really means, is that within is very little consumer protection if things go wrong. However what most lenders and brokers tend to do for BTL, is follow residential mtg guidelines although they dont obligation to.
I could be more technical but would need several page to reply - hope this helps. Source(s): Independent mortgage broker
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