Landlord Expert - Free landlord Information, Advice and Support - Buy to let lending increases.

Landlord Expert - Free landlord Information, Advice and Support - Buy to let lending increases.

Rental Property is in high demand across the UK and the reason is two-fold....

For some, it is due to the inability to purchase property. Lending has been tight and very few have been able to meet the deposits required or get approval. The other reason is that there are some households that wish to forego purchasing property at this time. The economy is weak and they are choosing renting as a lifestyle rather than an alternative. This allows for more flexibility should a move be required for employment and it avoids heavier debt in uncertain times.

The demand on rental property has been good for the buy to let market, especially for buy to let lending. This area in mortgaging, along with remortgaging, has given a boost to what would have been a very low market for purchases and lending. According to a survey of 200 intermediaries with Paragon Mortgages, 46 per cent of the responders reported an increase in buy to let business for the fourth quarter of 2010. Buy to let remortgages increased with landlords choosing to secure a low interest rate before Bank regulators raised the rate. Others remortgaged as a meas to increase their portfolio.