17
Nov
Buy-to-let deals 'on the rise'
The number of buy-to-let mortgage packages available on the market
is slowly rising, according to one consumer website.
Moneyfacts has reported that the sector is showing "positive signs"
with the number of deals on offer in November increasing by 60
compared with September of this year.
The website's research has found that landlords who want a choice
of loans must have a minimum of a 25 per cent deposit in order to
secure the best deals. At the peak of the housing market, a deposit
of as little as ten per cent was required.
Michelle Slade, a spokesperson for Moneyfacts, commented: "Many
landlords' biggest problem in securing a competitive deal will be
finding the deposit needed as previous house price falls are likely
to have eaten into the equity available in their portfolio."
Statistics released last week by the Council of Mortgage Lenders
revealed that the buy-to-let market had grown for the first time in
two years during the third quarter of 2009.
