17 Nov

Buy-to-let deals 'on the rise'

Buy-to-let deals 'on the rise'

The number of buy-to-let mortgage packages available on the market is slowly rising, according to one consumer website.

Moneyfacts has reported that the sector is showing "positive signs" with the number of deals on offer in November increasing by 60 compared with September of this year.

The website's research has found that landlords who want a choice of loans must have a minimum of a 25 per cent deposit in order to secure the best deals. At the peak of the housing market, a deposit of as little as ten per cent was required.

Michelle Slade, a spokesperson for Moneyfacts, commented: "Many landlords' biggest problem in securing a competitive deal will be finding the deposit needed as previous house price falls are likely to have eaten into the equity available in their portfolio."

Statistics released last week by the Council of Mortgage Lenders revealed that the buy-to-let market had grown for the first time in two years during the third quarter of 2009.

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