Buy-to-let mortgage demand is increasing rapidly

Lenders are expecting more activity in the but-to-let market in 2021 than this time last year.

A survey by the Bank of England stated 60% of lenders expected demand to grow over the coming months. All the early signs this year show they are correct as demand is up 27% on the same period last year.

It is thought that as 2021 progresses applications will slow but both lenders and borrowers alike are confident of the future.

Mortgage providers are keen to point out that there are many very good deals in the marketplace both fixed and variable rates.

Even with all the changes to buy-to-let taxation it is expected to be a strong year of growth for the buy-to-let mortgage sector. House prices in the UK continue to rise at a rapid rate thus making it exceedingly difficult for the first-time buyer to get onto the property ladder.

The demand for good quality rental property therefore continues to rise month on month. Landlords are anticipating rents will increase later in the year when.

These will be interesting days ahead for the rental market and it is likely big changes will be taking place over the coming months.

If you wish to review your current or future mortgage planning do call one of our fully qualified independent advisers. We look forward to helping you.