New mortgage products may lead to more flats to rent in London
Recognition of strong potential in the buy-to-let market from money lenders could see a rise in the number of flats to rent in London.
David Lawrenson, landlord expert at LettingFocus.com, said mortgage providers are confident that landlords will be able to repay finance they have borrowed due to the strength of the market.
He added that the institutions are now offering property owners new products, while some institutions have seen an opportunity to provide finance due to a lack of competition.
"Other lenders have jumped in and clearly seen that there is strong potential in this market," he stated.
Earlier this week, Paragon Mortgages revealed that buy-to-let property finance products were more readily available from almost half of all mortgage brokers in the third quarter of the year.
Figures published by the company showed more than a third of intermediaries believe the availability of the property finance will improve further over the next three months.
By Andy Britten
Published 5th November, 2010
© 2010 Estates IT Limited
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