Optimistic Future For Buy To Let Mortgage Market


The UK’s buy-to-let mortgage market has seen a considerable improvement since the start of the year with increases in the number of banks and building societies willing to lend in the sector and the level of products available.
Regional building societies, in particular, have shown a growing interest in the buy-to-let market, with Leeds BS, Saffron BS, Hinckley and Rugby BS, Buckinghamshire BS and Shepshed BS just some of the lending institutions that have increased competition in the sector by launching a number of attractively-priced products.
This healthy competition amongst lenders, together with falling swap rates and an expectation among City analysts of a stable Bank of England base rate, has resulted in some great deals being offered to intermediaries and their buy to let clients.
The price of variable rates has fallen since the start of they year, while the price of fixed rates has been declining since early 2010, with the exception of a slight upturn at the start of this year.
In addition to better initial rates, there are now a wider range of products available that offer incentives such as free valuations, no early repayment charges or no completion fee.
Furthermore, there have been improvements in the availability of higher loan-to-value products and the number of options available for professional landlords with larger portfolios, while the buy-to-let remortgage market has experienced an increase in the availability of products specifically for refinancing, helping intermediaries generates new business.
Despite these positive signs, mortgage demand still outstrips supply and many existing lenders still have strict rental income requirements for landlord borrowers. But demand for rental properties is growing as first time buyers across the country continue to find it difficult to obtain a mortgage, and this is enabling some landlords to borrow more as rents increase.
Overall, things are looking up for the UK’s buy-to-let mortgage market, with further improvements excepted during the rest of this year and into 2012.

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Finding the best mortgage advisers in your area is easy. Whether you're looking for buy to let, a residential mortgage, or a commercial loan, just enter your location into the form and answer a few questions. Then sit back and let the backend system do all the legwork to put you in touch with independent mortgage advisers near you!

Find the Best Rates from Local Mortgage Advisers!
Finding the best mortgage advisers in your area is easy. Whether you're looking for buy to let, a residential mortgage, or a commercial loan, just enter your location into the form and answer a few questions. Then sit back and let the backend system do all the legwork to put you in touch with independent mortgage advisers near you!

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