A greater number of mortgage lenders are coming up with products targeted at those interested in rental properties .
This is according to Gavin Elley, relationship manager at Mortgages for Business, who spoke about the issue at the Landlord and Letting Show in Birmingham.
He claimed: “What lenders have worked out is that buy-to-let lending actually isn’t such a bad thing.
“It has got the same risk rating as residential mortgages but it is actually an easier transaction.”
The growing popularity of such options is likely to continue over the coming months, as banks will be pleased to learn there is more security and plenty of opportunities in this market, Mr Elley continued.
First-time buyers who might have traditionally purchased a house are now on the lookout for rental accommodation because they can no longer afford to invest, creating plenty of demand for such dwellings that is only set to rise.
Mr Elley’s comments follow reports from Platform, which reaffirmed its plans to grow in the buy-to-let sector by extending two of its rangers and launching new tailored tracker products for brokers .
