11 Aug

Mortgage criteria for buy-to-let loans 'has improved'

Mortgage criteria for buy-to-let loans 'has improved'

Landlords looking to take out a buy-to-let mortgage have been given good news after one expert has said that the criteria for taking out a loan have improved.

David Whittaker, managing director at Mortgages for Business, said that over the first half of 2010, there has been good progress made over the relaxing of lending criteria for borrowers.

He predicted that these improvements are likely to continue through the second half of the year.

His comments were made after Upad Rental Confidence Index, published on Monday (August 9th), revealed that there was a boost in satisfaction among landlords about the industry this month compared with the last.

Chief executive of the firm James Davis added that while 69 per cent of landlords said they had more security in the industry than in June, there was the problem that banks "are still hoarding savers' deposits".

He stated that buy-to-let finance should be improved more and loans need to come out at a "sensible rate".ADNFCR-1222-ID-800021418-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.