Buy to Let market continues to grow.

The number of buy to let remortgages has reached a new high for the year,
report Westexe Mortgage Solutions.

New figures from Exeter’s longest established mortgage brokers  show that the percentage of people looking to remortgage has risen to its highest level to date in 2012 as
landlords look to use the equity in their portfolio to help part fund the cost
of additional buy to let purchases.

What’s more, Westexe is seeing an increasing number of first time landlords looking to remortgage in order to have the capital to buy a new property whilst at the same time rent out their current property. Buy to let accounts for almost one in five mortgage applications
currently processed.

The latest figures show that experienced landlords are happy to continue to invest in
property by expanding their portfolios to meet the high tenant demand in many
areas of the country. It is also interesting that some home-buyers are using the
equity in their current properties to invest in buy to let for the first
time.

Whilst lending criteria understandably remains risk averse, there
are still many great opportunities for landlords to maximize their yields from
all sorts of property across the country, and my feeling is that our buy to let
lending will continue to grow during 2012.

Posted on May 9, 2012 by Peter Marriott, in: Uncategorized

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