Mortgage Strategy - No post-MMR boom for buy-to-let so far, say two-thirds of brokers
Two-thirds of brokers say they have not seen an increase in buy-to-let lending since the Mortgage Market Review came into effect on 26 April.
Trinity Financial product and communications manager Aaron Strutt says: “I don’t think the figures are too surprising at the moment for a variety of reasons. Firstly, a lot of the lenders are getting wise to buy-to-let gaming and all that comes with it so they will more than likely have extra checks in place to spot if an applicant is going to live in the property.
“You also have to consider that many of the lenders have been MMR-compliant since before 26 April, so that takes away from the likeliness we would see a sharp increase. We may see a more gradual trend over time but I wouldn’t expect to see anything drastic.”
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