Property investors looking to take out buy to let finance can expect to find mortgage products being offered as cheaply as mainstream residential loans.
Traditionally buy to let mortgages have been subject to a higher rate of interest than residential loans however fierce competition has brought about a level playing field in what has increasingly come to be perceived as low-risk lending.
Many more lenders are looking to attract a growing number of would be investor landlords with mortgage products offering up to 90 percent of the value of the buy to let property – the end results are that investors no longer need such a large deposit to put down and lower rental requirements.
The buy to let bandwagon shows little sign of slowing down in the wake of these new developments, contrary to analyst predictions in previous years, with the number of mortgaged properties reaching the one million mark.
The world of buy to let investment is far from rosy however with buy to let property repossessions up at record levels. While more competitive and flexible lending products of this kind offer greater financial implications and benefits to the borrower,...
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