Press Room
Buy To Let Mortgage Availability Increasing
Availability of mortgage products for buy-to-let investors is improving in recent months, the Residential Landlords Association (RLA) has said, but some borrowers may find they need to meet new conditions.
Alan Ward, chairman of the RLA, said local housing allowance tenants are "only allowed if payments are made to the tenant".
This is contrary to RLA arguments and many tenant organisations who believe direct payments to landlords are safer, he went on to say.
Additionally, more landlords are opting for fixed rate mortgages because "rates can only go up from the present levels", said Mr Ward.
This week, Haart revealed that demand for buy-to-let mortgages has risen to 16.8 per cent of all mortgages - the highest level seen all year.
This shows a significant upswing from the beginning of 2011, when buy-to-let accounted for just 10.9 per cent of mortgage demand.
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Article date: 8/26/2011 12:00:00 AM