Buy To Let Mortgage Lenders Rates Show Signs Of Decreasing
Wednesday 12th May, 2010
Buy to Let Mortgage Lenders are starting to decrease their rates for Lending to Landlords in the Letting Market, meaning that Landlords will have access to larger mortgages and cheaper rates.
The Cooperative Bank Group’s Platform branch, as well as the Nottingham Building Society and the Coventry Building Society have all either decreased their buy-to-let fees, or have increased how much landlords may take up as a loan for each property. For example, those with the Nottingham Building Society may now take out a loan-to-value amount of up to 75%, representing a 5% rise from the previous sum.
Landlords have been slightly restricted through the 'financial crisis' meaning that less rental properties have been available as Landlords simply haven't been able to afford to take out mortgages for new properties to add to their portfolio.
The decrease in mortgage rates now means that more rental properties should be coming onto the Letting Market.
Tenant Direct are a Letting Agents specialising in Property Management and Lettings in the Southampton area, we have a number of flats, houses and student accommodation to rent in Southampton so please contact us if you are looking to rent a property in Southampton on 02380 332230 or take a look at our properties available.
As specialists in our field, we are fully committed to providing a first class service tailored to the individual needs of Landlords and Tenants alike.
