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UK Buy-to-let Mortgage Deals hit a seven-year high

Housing-Market / Buy to Let Aug 25, 2015 - 02:29 PM GMT

By: MoneyFacts

Housing-Market

Pensioners’ new-found ability to access their whole pension pots combined with the promise of high returns has seen activity in the buy-to-let (BTL) market surge.

In light of this increasing demand, product numbers have soared, so much so that data from Moneyfacts.co.uk has revealed that the number of BTL deals has hit 1,000 for the first time since April 2008.


Charlotte Nelson, Finance Expert at Moneyfacts.co.uk, said:        

“With high rents and poor savings rates, it’s little wonder that the BTL market is booming, with the number of deals hitting the 1,000 mark for the first time in over seven years.

“The boom in deals has undoubtedly been boosted by providers taking advantage of the new demand from thousands of pensioners making the most of the new pension freedoms.

“Unsurprisingly, the growth in products has been accompanied by falling average rates, which have dropped by around 3.00% over the same period. This can help many borrowers to make easy savings, which means that they can generate even bigger returns on their investment.

“However, with a base rate rise on the horizon these low rates won’t last forever, so borrowers need to act fast to secure a low rate. Future legislative changes to the BTL market also mean that potential investors need to keep an eye on any announcements to ensure that BTL will still be profitable.

“More deals on the market mean that it’s more important than ever to shop around and weigh up the true cost of a mortgage to ensure that the best deal is secured. Anyone thinking about entering this sector would be wise to seek the advice of an independent financial adviser to see if BTL really is the best place for their investment.”

www.moneyfacts.co.uk - The Money Search Engine

Moneyfacts.co.uk is the UK's leading independent provider of personal finance information. For the last 20 years, Moneyfacts' information has been the key driver behind many personal finance decisions, from the Treasury to the high street.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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