UK Buy to Let Mortgage Market Overview Published by Moneyfacts

Arecent press release published by Moneyfacts, online portal for comparison of financial services, on October 11th 2010 suggests that the UK buy to let market is improving.

The analysis of btl market revealed that currently there are 306 buy to let mortgages available for residential property investors. Even though this is almost 10 times lower than in July 2007, when the number of buy to let deals amounted to 3,648, the worst is over.

Moneyfacts experts claim that the lending environment in the buy to let sector is improving as interest rates have decreased, whereas the number of available products have grown. In October 2009, the number of lenders offering btl mortgages amounted to 45, this year it rose to 54.

The banks that either returned or entered this market recently include: Aldermore, the Mortgage Works, Darlington BS, and Paragon.

Commenting on the findings, Michelle Slade of Moneyfacts said that although affordability is still a problematic issue, the overall situation on the UK btl market has improved as new more accessible mortgages were introduced by lenders.

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