Number of buy-to-let mortgages on offer has doubled
The number of buy-to-let mortgage rates has doubled over the last two-years, according to Moneyfacts.
More banks and building societies plan to increase lending in this area and some intend to provide more buy-to-let lending than residential.
There are currently 486 buy-to-let mortgages available compared to 243 in February 2010.
Six lenders offer buy-to-let mortgages to investors with a 20% deposit, which is well up on the number available three months ago. The lenders include: Aldermore Mortgages, Leeds Building Society and Clydesdale Bank.
Aaron Strutt, a broker at Trinity Financial, says: “This is good news for landlords and investors. It demonstrates the growing confidence in the buy-to-let market. During the height of the credit crunch many banks thought buy-to-let was a high risk area and virtually stopped lending. Things have certainly changed.â€
One of the most competitive buy-to-let mortgages available through Trinity Financial is a two-year tracker rate at 3.49%. It has a £1,499 arrangement fee and the lender will pay the property valuation fee.
February 3, 2012
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
