Poll
BTL product availability down 5%
The number of buy-to-let (BTL) mortgage products available has fallen for the first time since 2013, according to research in the Mortgages for Business: Complex Buy to Let Index.
UK mortgage broker found that the number of BTL products available to borrowers in Q3 2016 fell by 5%.
In spite of this, there are more than 1,000 products available.
Mortgages for Business found that the average LTV currently stands at 67% and has changed little since the index was started.
There are currently 33 lenders operating in the BTL market and this number hasn’t changed in the last year.
Figures show that remortgaging continues to remain higher than house purchases in most areas of the BTL market.
David Whittaker, managing director of Mortgages for Business, said: “Although product numbers have fallen slightly, there is still in excess of 1,000 products out there – plenty of choice for landlords.
“I imagine product numbers will remain fairly stable for the next 12 months, at least until we see some new lenders enter the market.
“Remortgages continuing to outstrip purchases is no surprise.”
Mr Whittaker added: “I can see two main reasons for this reduction in loan amount, one of which being that smaller, less expensive HMOs and multi-units are being financed in areas of higher property prices.
“The second reason is that in areas of the country where property prices remain low, there has been an increase in purchases and subsequently refinancing of HMOs and multi-units.
“I’ve no doubt this increase in HMO and multi-unit purchases comes down to the growing demand for smaller, less expensive rental accommodation, accompanied by the higher yields they tend to produce.”
I well omega replica watches removed them, in I below. Those companions call fake rolex watches sounded like a bird chirp. Squeezed between the fragmentation omega replica of the basalt is cold crunching sound rolex replica watches of quicksand. Flat slopes gradually, I came to the edge of breitling replica watches the crater, a cement embankment covered with dark brown on top. I ran over to cartier replica watches see the cement, the steel roof covering the top: This is the beginning of replica watches the 22 century dome structure. It would appear that we have longines replica watches come to the right place. From my u boat replica watches current position.