New buy-to-let mortgage products recently released onto the UK market indicate that lenders are easing up on landlords and that the lettings market could be on the up. While mortgages have mainly been available with a minimum 25% deposit over the last couple of years, the buy-to-let market has stalled. Many landlords have been riding out the low interest rates with a variable product, as re-mortgaging has not been a financially viable option. It now looks as though things are beginning to change, however, as financial company The Mortgage Works has announced that it will be offering a small range of fixed rate and tracker buy-to-let mortgages for 80% loan to value.
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With home prices reaching unprecedented heights and interest rates soaring, the discerning nature of today’s buyers requires all agents to employ every possible advantage. Simply put, cutting corners on staging is a risky move that risks prolonged market presence.