‘Buy-To-Let Mortgages Back In Business’
An expert in the buy-to-let mortgage market has claimed that the market is showing improvement in 2010, recovering from the previous fallout from the financial crisis.
David Whittaker, MD of Mortgages for Business, accepted that while the market was “tricky” even just a year ago, there are now improved and more plentiful opportunities for investors to access finance for their property investments.
“Essentially, we are back where we were four-and-a-half or five years ago and the market was absolutely fine. It is just that we have to had to shed the products that were, with the benefit of hindsight, too racy.”
Mr. Whittaker’s comments will be good news for landlords who have continued to find it hard to access a mortgage deal – research from LSL Property Services indicated that 13% of landlords were unable to get hold of the finance they required last year.
Likewise, the letting agency industry will see many positives from news of easier access to buy-to-let mortgages, increasing the long-term prospects of the already strong rental property market.
