Buy to let market stays strong
www.moneynews.co.uk > Housing market > Buy to let market stays strong
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Money News |
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Buy to let market stays strong
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The housing market remains strong, despite speculation that it is set to slow in the near future. A roller coaster stock market, low interest rates and rising property prices have all prompted what Bristol and West Mortgages calls a "mini boom" in recent years.
The new Buy to Let Tracker mortgage, offered by Bristol & West Mortgages, is available at bank base rate plus an additional 1.15 per cent for long term plans. It also has no early repayment charges and is available up to 75 per cent of the total value of the property.
Bob Stanworth, senior product manager at Bristol & West Mortgages commented: "This is a very competitive product that meets the needs of landlords looking for a good value long term tracker rate."
According to the Council of Mortgage Lenders, last year witnessed an escalating demand for buy to let properties, with a 40 to 48 per cent rise in the number of specialist landlord mortgages on offer.
The strong renting market looks set to continue, and many landlords feel confident about the future. Following a survey conducted by the Homebuyer Show, 70 per cent believe that house prices will continue to rise, with 30 per cent saying they thought they would grow "strongly".
Related News : Housing market |
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