Loans Given To Landlords Have Increased By 1/3 In Three Months

July 4th 2012
By: Melanie

Landlords are continuing to benefit from banks who are reluctant to lend to first-time buyers, so far in 2012 figures reveal that the number of loans given to landlords have increased by a third in the first three months of this year.

Landlords who put down on average a 25% of the asking price for a house, are benefiting from some of the best mortgage on offers, as a typical buy-to-let mortgage is still under 4%, a much better deal than for first-time buyers. However the best deals on offer are for those buyers who have a 40% deposit.

There are still some great opportunities for savvy investors, but landlords must do thorough research and do their sums first before buying a rental property, and it’s best to take a five to ten year view on investing in a rental property.

If you need help choosing your buy-to-let property and mortgage why not contact your local branch of Intercounty, and our team of advisors and mortgage brokers will be able to give you the best local knowledge and mortgage deals available in the market place.