Mortgage News
Buy-to-let market sees signs of recovery: Moneyfacts
The buy-to-let market has begun to show signs of recovery with the number of deals increasing from the all time low of 179 in September 2009 to 239 today.
The sector has been one of the biggest casualties of the last two years, with 93% of all deals disappearing in that time. There were 3,662 buy-to-let products available in August 2007.
There are now only four available deals with a 20% deposit, despite deals which required just a 10% or 15% deposit making up 64.8% of the market just over two years ago.
Michelle Slade, spokesperson for Moneyfacts, said it is harder than ever for landlords to find a competitive mortgage because numerous lenders have pulled out of the sector and remaining lenders have restricted their deals.
She added: “Buy-to-let lenders have continued to tighten criteria, restricting the size of portfolios that landlords can have, both in number of properties and the maximum total advance.”
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