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.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
