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Landlords Aviod Fixedrates
Landlords have taken out more tracker rate deals than residential borrowers.
Between December 2007 and February 2008 57% of residential borrowers chose a fixed rate with only 35% buy to let investors opting for fixed rates.
Over 28,000 mortgage applications were analysed and found the average residential mortgage was 66% and buy to let was 76%.
Owner-occupiers were more cautious and needed the security that a fixed rate offers whereas landlords thought variable rates were a better deal.
Tracker rates have been raised by lenders because of credit problems and are not so attractive to the borrower.
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