13 Oct

Buy-to-let owners given more mortgage options

Buy-to-let owners given more mortgage options

Owners of buy-to-let properties have been given more options on mortgages to encourage landlords to take out a loan.

According to Moneyfacts, there were 45 active lenders in the buy-to-let market last year, whereas today there are 54.

It suggested that the increase in the number of mortgage providers offering loans to buy-to-let owners was intended to boost the options available.

Michelle Slade, a spokeswoman for Moneyfacts, said that the buy-to-let market is "slowly trying to fight back".

She added: "Lenders are returning to the market, bringing much-needed competition back to the sector."

Ms Slade stated that having different options was particularly important as there are a number of "accidental landlords" around at the moment.

Earlier this week, the Association of Residential Lettings revealed that over the last three years the number of tenants looking for rental accommodation has more than doubled, making investing in a buy-to-let property an appealing option for many.ADNFCR-1222-ID-800113683-ADNFCR

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