20 Oct

Buy to let mortgage market improving, poll finds

Buy to let mortgage market improving, poll finds

New research has indicated that buy to let landlords are finding it less difficult to obtain larger mortgages from Britain's banks, as the purse strings begin to loosen following the economic downturn.

According to a report on the Mortgage Strategy Website, the latest TBMC Landlord Profile Tracking Index revealed the price gap between fixed-rate and tracker mortgages narrowed in the third quarter of the year.

"Over the last year we have seen a steady lowering in the price of the average fixed rate buy to let mortgage being offered," TBMC chief executive Andy Young explained. "The buy to let mortgage market has stabilised."

He added that fixed-rate deals have grown in popularity over the last few months to overtake tracker mortgages and claimed there are "positive signs" for landlords to focus on in the near future.

Earlier this week, estate agent Knight Frank revealed that the rental values of high-end property in London have risen by 16 per cent since the depths of the recession in June 2009.ADNFCR-1222-ID-800127390-ADNFCR

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