Buy-to-let lending at three-year high
The number of buy-to-let mortgage loans has hit the highest level for three years in the third quarter of 2011, according to the Council of Mortgage Lenders. They say around 34,500 buy-to-let loans were advanced in the three-months to September, 16% more than in the previous quarter.
Godiva Mortgages is the latest lender to improve their buy-to-let rates to attract more investment customers. Their lowest two-year fix is 3.65% and it has a £2,249 arrangement fee. There is a free property valuation and the mortgage has no early repayment charges.
Northern Rock is currently offering £500 cash back as an incentive to take one of their buy-to-let mortgages. The cash back was reduced from £750 this week due to the increase in demand.
11 November 2011
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