I have a BTL mortgage with Abbey on a SVR. My LTV is approx 50%. I have had the mortgage for 5 year on an interest only basis with a loan of £125k. My current repayment is about £450 and rental income £900 pcm. Also, will the lender require proof of my income? Also, taking into account - valuation fees, solicitors costs, arrangement fees etc - will it really be worth th effort?
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17 December 2010