Buy-to-let mortgage market has turned

Buy to let property investors will now find it easier to access mortgage finance according to one expert.

David Whittaker, managing director of Mortgages for Business, said the market for buy-to-let loans has "turned".

"The reality is that the market has improved and is improving," he remarked.

"There is more money available for those of reasonable credit and reasonable organisation," he explained.

In essence, Mr Whittaker said, the buy-to-let mortgage market is back to how it was four-and-a-half years ago.

The only difference now is that some of the riskier products - those considered "too racy" in hindsight - have disappeared.

According to a recent survey by Paragon Mortgages, 12 per cent of landlords intend to add to their property portfolios in the next three months, up from ten per cent last quarter.

Furthermore, 36 per cent of landlords said they expect demand for rental property to be higher 12 months from now.

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Published on: April 29, 2010

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