Thursday, November 4, 2010

More BTL mortgages available again in UK

A recent financial adviser confidence tracker report suggests that availability of buy to let mortgages in UK has improved.
As many as 43% of surveyed mortgage brokers said that the number of available deals increased in Q3 2010. Another 38% said they have not noticed any changes in the number of mortgage deals for property investors, and only 19% of respondents said the number of available loans fell.
The survey also found that 58% of mortgage brokers expect the situation on the market not to change significantly in Q4, whereas 35% hope it will get even better. The remaining 7% think the availability of buy to let mortgages will decline.
The report comments that the market has significantly improved in the past months, however, it still is not back at its pre-crisis level. Many professional buy to let landlords still find it hard to access loans.

1 comment:

Jenny said...

From a running perspective the news on Buy to let in th UK is diverse. For professional landlords that have bought well, have 25% plus equity in their homes and particularly are on repayment mortgages are doing well. Currently many are on very low interest rates, so are either paying more of the mortgage off, being able to invest in more properties or renovate their current.