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Landlords 'enjoying greater access to mortgages'
Posted by Emily Swanson
Landlords have enjoyed greater levels of access to mortgages in recent times as the market continues its recovery in the aftermath of the economic slump.
That is according to Alan Ward, chairman of the Residential Landlords Association (RLA), who insisted that the availability of home loans to professionals in the buy-to-let sector has got much better over the last few months.
However, despite this improvement, Mr Ward explained that the rates attached to such products remain "relatively high", as it seems banks and building societies are becoming increasingly selective with regard to who they lend capital to.
"Some lenders are adding strange conditions, like local housing allowance tenants are only allowed if payments are made to the tenant," he added.
Recently (August 22nd), haart revealed that demand for buy-to-let mortgages has risen to its highest level this year.
And the RLA official stated the majority of professionals are likely to be opting for fixed rate deals as interest can "only go up" in the near future.
26/08/2011 15:16
News category: Property