Demand for buy to let mortgages has dropped, claims LettingFocus.com
www.moneynews.co.uk > Mortgages > Demand for buy to let mortgages has dropped, claims LettingFocus.com
Topics |
|
|
|
 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Features |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Companies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money News |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Demand for buy to let mortgages has dropped, claims LettingFocus.com
Fri 5th Nov 2010
|
|
|
|
David Lawrenson, landlord expert at the company, explained that this drop has a lot to do with the weakened state of the overall housing market.
He suggested a major factor is the deposit required to secure a buy to let mortgage, with 25 per cent being the typical figure asked for by lenders.
Mr Lawrenson pointed out that two years ago there were products available at up to 85 per cent loan to value, but buyers will struggle to find such deals nowadays.
In his opinion, this is a constraining demand, but he stressed it is still encouraging that more buy to let arrangements are appearing on the market.
A recent study by Paragon showed 43 per cent of brokers believe the availability of finance for landlords has improved in the past three months.
According to Mr Lawrenson, this is a sign that financial institutions may be happy to lend to buy to let customers.
"It is nice that some of the other lenders have basically recognised that there is a lack of competition and have come in," he said.
"Other lenders have jumped in and clearly seen that there is strong potential in this market."
The LettingFocus.com spokesperson stressed that this confidence in landlords' ability to borrow and pay back money is great to see.
Mr Lawrenson added that he is not surprised by this turn of events, since rents have been going up all over the country.
Click here for more mortgages news
Related News : Mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
