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Growth in number of first-time BTL deals hits record high

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  • 01/10/2019
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Growth in number of first-time BTL deals hits record high
A record 297 first-time landlord buy to let (BTL) products have been brought to the market over the past 12 months resulting in the biggest year-on-year increase for October for this type of deal.

 

The last high for growth in first-time landlord BTL products was seen in 2015, when the number of deals increased by 226. 

This is according to Moneyfacts’s BTL market analysis, which in July 2019 confirmed there were 1,405 deals available to first-time landlords.  

In August, the number rose to 1,431 and it now stands at a new high of 1,474. 

Rachel Springall, finance expert at Moneyfacts.co.uk, said: “While lenders work hard to accommodate prospective investors with an array of BTL options, the costs of managing a property or concerns about a volatile property market could deter some from investing in this arena altogether.  

House price growth has slowed to 0.70 per cent, the lowest in almost a decade, according to the Land Registry. 

Springall added: “As it is a mere few months until tax reliefs are scrapped, it’s vital consumers seek independent advice to work out whether BTL is a viable investment opportunity for them and to be made aware of upcoming changes facing the market.”

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