20 May

Buy-to-let sector 'improving'

Buy-to-let sector 'improving'

The buy-to-let property market in the UK is gaining in strength, it has been suggested.

According to Moneyfacts.co.uk, the number of mortgage deals available to those keen to make purchases of such homes has risen by 70 per cent since September last year.

There are now 304 products being provided by lenders in the country, the firm noted.

Spokesman for Moneyfacts.co.uk Darren Cook suggested that competition is returning to the sector.

He added: "This is encouraging news for investors, especially those who were locked out of the market as the maximum available loan-to-values fell."

As an example of the activity occurring at present, Mr Cook noted that Saffron and Melton Mowbray Building Societies returned to the industry over the last month and the Bank of China "continues to successfully find its niche".

Recently, Defaqto noted that consumers who want to get a good mortgage deal may be best off going through their own banks, as they can sometimes receive special deals.

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