7 May

Buy-to-let options on the rise

Buy-to-let options on the rise

Landlords will be pleased to see an increase in the number of buy-to-let mortgage options that are available in the UK.

According to the latest Buy-to-let Mortgage Costs Index produced by Mortgages for Business, the number of products currently available is 644 - a third higher than the number on offer prior to the economic downturn.

It also appears that landlords are benefitting from more competition in the buy-to-let mortgage market, with an increased number of products offering better loan to value (LTV) options for borrowers.

Managing director of Mortgages for Business David Whittaker said: "This is certainly good news for investors with smaller deposits.

"We can only conclude from all of this that lenders are taking the opportunity to increase significantly their margins on the lower LTV products in order to recoup some of their lost margin in the 75 per cent range."

Recent figures from Paragon Mortgages revealed the average buy-to-let investor has seen a return of 16.3 per cent since 1996.ADNFCR-1222-ID-801718161-ADNFCR

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