The best mortgages are currently for buy to let investment.
Some of the best mortgages currently on offer by UK lenders are for buy to let investment.
The UK mortgage market is currently under pressure through increased funding costs. Lenders concerned out the escalating eurozone crisis are restricting mortgage availability, and FSA rules to limit riskier lending have led to the tightening of mortgage lending criteria.
Mortgage funding now comes in very limited fixed tranches which is often rapidly exhausted. Mortgage approvals are down and currently show little sign of improvement. However all of these factors relate to the residential mortgages market.
The buy to let sector is fairing much better. Lenders who are restricting lending in the residential sector are offering more of the best mortgages to the buy to let investment sector.
With rental yields on the up and latest research commissioned by Cambridge University, predicting that by 2020 more families will be living in rented accommodation than their own mortgaged property, banks are keen to cash in.
Currently The Mortgage Works are offering a 2 year fixed rate mortgage at 3.39% for 60% loan to value and the Coventry Building Society are offering a slightly higher 2 year fix at a rate of 3.75%.
For the best mortgages for the buy to let investment call Deal Direct.
We source the most competitive products on offer.
