Buy-to-let market grows and 85% ltv makes a return
Kensington have re-entered the buy-to-let best buys offering a range of higher loan to value mortgages. They now offer the only 85% loan to value investment mortgage and it is available through Trinity Financial. The rate is a two year fix at 5.99% and the arrangement fee is 2.5% of the loan amount. If you have a 20% deposit then there are cheaper options.
Kensington are set to step up lending over the coming months and they are clearly keen to offer more niche mortgages. A number of lenders including Santander and the Yorkshire Building Society are expected to re-enter the buy-to-let market after a three year absence.
The buy-to-let market grew by 7% in 2010, according to figures from the Council of Mortgage Lenders. The total buy-to-let lending in 2010 was £10.4bn, 22% higher than in 2009, and the total number of loans advanced last year was 102,000, 10% higher than the previous year.
February 20, 2011
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