More deals than ever

There are more buy-to-let products available on the market than at any time in nearly 10 years, new research shows. According to data there are currently 1,725 buy-to-let products available compared to 1,339 this time last year.

As landlords will know the buy-to-let market has had an understandably bumpy ride of late, considering all the regulation and tax changes it has had to contend with.

The market has clearly recovered from the tougher affordability rules that were put in place in January when it saw a drop in the number of products available to landlords. Since then, the number of deals on offer has gone from strength-to-strength.

So, despite reduced buy-to-let activity in the first quarter of this year, competition among lenders remains high as providers fight to retain their standing in a diminished market. As a result, rates have also fallen, with the average two-year buy-to-let fixed rate down from 2.91% in August to 2.86% in September and another record low.

These positive figures show that even after everything that has been thrown at landlords in the last two years they remain resilient and positive.

The Prudential Regulation Authority is bringing in tougher rules for portfolio landlords – those with four or more rental properties – on 30 September. It expects firms to adopt a more specialist underwriting process to reflect greater complexity of lending to portfolio landlords.

If you are a landlord looking for a new or re-mortgage please do make contact. We have fully qualified specialist advisers waiting to help you.