Buy-to-let mortgage market 'more confident'

Posted: 05 Nov 2010 09:58:52 GMT

A new survey has revealed availability for buy-to-let mortgages has got better.

The availability of buy-to-let mortgages has improved, according to new figures.

A survey by Paragon Mortgages revealed 43 per cent of brokers claimed the accessibility of home loans improved in the three months to end of September.

Furthermore, a total of 35 per cent believe the market will get better during the next quarter.

David Lawrenson of LettingFocus.com said the figures show assurance is returning to the sector.

He remarked: "Clearly lenders are quite confident about the future of buy-to-let, they are sure they can lend and that landlords will be able to repay them."

However, Mr Lawrenson explained demand from landlords for finance is "much weaker" than it was in 2008 and this is linked to the housing market, as mortgage lenders are now demanding a 25 per cent deposit.

This is quite a contrast to what was available two years ago, when 85 per cent loan-to-value deals were all the rage, he noted.

© Houseladder Ltd

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