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The number of bu-to-let mortgages increased by around 84,000 in 2011. Apparently during the 4th quarter of 2011 a total of 34,800 buy-to-let mortgages were advanced (15,600 were remortgages). This compares with only 26,300 in the fourth quarter of 2010.
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David Whittaker from MortgagesforBusiness gives an explanation about what is happening.
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Meanwhile there was some positive reaction on twitter from some industry profesisonals.
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Share“Buy-to-let borrowing on the rise || Property News || jjtresidential.co.uk: Lenders prefer buy-to-let mortgages w… bit.ly/ArzGZe
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Buy-to-let mortgage deals increase by 100 in a year and interest rates fall – Moneyfacts
Last updated at 12:14 PM on 2nd February 2012 The buy-to-let market is booming again as lenders offer more and better mortgage deals, research showed today. As young home-hunters continue to struggle to get on the property ladder, property owners with an eye on the rental market have a vastly greater choice of mortgage deals at signifcantly lower rates than last year, according to Moneyfacts. -
Share“New research for Paragon Mortgages indicates that over a third of intermediaries saw an increase in buy-to-let a… tinyurl.com/7q3f4wb
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In other news BM Solutions, its cutting 0.2 % from all its Buy to Let mortgages following a 0.3 % cut earlier this month.
By way of a comparison here’s a couple deals currently available from other lenders:
Loan to value 85%
5.99% Fixed for 2 Years
Fees of 1% plus £130.00
Loan to value 60% Tracker 2.99% Discount off base for 2 Years
Fees of £1249 plus £250.00The above is just intended to give a flavour a the market, perhaps explaining the increase in lending.
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So what do you think, is buy to let starting to look like an attractive option for investors again?
And how will this affect the market overall?
