Property Investor Market on the Increase

The property investor sector of the UK market is continuing to grow, with gross buy-to-let lending up 14 per cent year-on-year in the first quarter of 2013 (figures from the Council of Mortgage Lenders). BTL growth

Around £4.2bn was advanced in the first quarter, compared with £3.7bn in the first quarter of 2012.

BTL lending accounted for 13.4 per cent of total outstanding mortgage lending in the UK – up from 13 per cent in the fourth quarter and from 12.9 per cent by the end of the first quarter of 2012.

With relatively stagnant property prices and considerable rental demand, many property investors are adding to their property portfolio. There has been a helping hand from Mortgage Lenders also, who are showing confidence in the market by offering very competitive deals and also easing some key criteria points to attract more applications.

Two recent key changes come from BTL lending stalwarts, being TMW and BM Solutions. TMW have now made their standard range of products available to first time landlords, a positive change from restricting first time landlords to higher rated products as they did before. And BM Solutions have removed their minimum income requirement meaning that an experienced landlord can apply for a mortgage without meeting the previous requirement of £25,000 minimum annual income.

To discuss your BTL requirements, please contact a member of the team at Harvey Bowes on 029 2115 6918.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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About harveybowes
Mortgage Broker and founding Director of Harvey Bowes Limited. A mortgage broking practice with bases in Cardiff & Poole, UK. We take a fresh and positive approach to mortgage broking which pays dividends for both our clients and frankly, ourselves. The team at Harvey Bowes are expert advisors in all aspects of mortgages from residential to commercial and buy to let.

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