Buy-to-let
Rates are now comparable with mainstream residential loans

Buy-to-let borrowers are for the first time being offered mortgages as cheap as mainstream residential loans as they are increasingly being seen as lower-risk lending.

More lenders are also attracting Britain's growing numbers of investor landlords with mortgages for up to 90 per cent of the value of buy-to-let properties - so demanding lower deposits - and lower rental requirements.
These lending changes come as the buy-to-let property market shows no sign of slowing, with the number of mortgaged properties approaching the 1million mark.

Loan restrictions have also been relaxed. More lenders are offering mortgages at loan to value (LTV) ratios of up to 90 per cent.

While in the past lenders might have wanted the security of rents equivalent to 130 per cent of the mortgage interest repayments, some will now go as low as 100 per cent rental cover.

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This article is for your general information and use only and is not intended to address your particular requirements. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without appropriate professional advice after a thorough examination of their particular situation. Your home may be repossessed if you do not keep up repayments on your mortgage.

Article date: 03.07