31 Jul

Buy-to-let lenders becoming far more competitive

Buy-to-let lenders becoming far more competitive

The market for buy-to-let properties is becoming more competitive as building societies offer better and cheaper mortgages to those who are looking to invest in rental properties.

London properties are still performing well according to the latest figures from the Land Registry, which said that the capital and the south east still outperform the whole nation.

And Lee Grandin, director at Landlord Mortgages, said that it is now the case that lenders are trying to offset lower business levels with a better level of rates.

"I don't know if it is because they have a volume of business and want a higher volume of business, or if it is just that they need to try and stimulate things a bit. I think it is probably more the case that the market is still quite subdued," he said.

However, Mr Grandin also said that it could still take a while for rates as a whole to take a significant drop.ADNFCR-1222-ID-801419296-ADNFCR

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