Buy to let remortgages to be offered by more lenders
As more borrowers are looking at buy to let remortgages to fund properties to increase their portfolios, more lenders are entering the buy to let mortgage market to meet the buy to let demand.
Demand for rental properties is on the increase and this increase is predicted to continue over the next few years as the economy struggles and lenders remain cautious.
Tight lending criteria has kept many UK households from buying their own property. Loan to value levels are low and the level of mortgage deposits demanded by lenders are considered to be out of reach of many householders hoping to buy. Without the ability to purchase property many have no choice but to look for rental property. There is no shortage of people looking to rent property and landlords are able to fill vacancies quickly.
Many investors who are looking to cash in on this lucrative market, are taking out buy to let remortgages to build up their portfolios. This demand has led to lenders adding more buy to let products to their offerings, some are taking a first step into the buy to let mortgage and remortgage market. Experts agree that the high demand for rental properties will continue as lending remains cautious and the supply of homes for sale begin to dwindle.
Many more buy to let mortgage products are coming onto the market as lenders see this specific mortgage market flourish. For those looking to enter the buy to let remortgages market there are low interest rate deals available and many products to choose from.
