Getting Finance is Easier

Landlords are finding that getting finance is easier says a leading expert.  Director of Property and Finance Solutions, Darren Owen, says that the higher loan-to-value mortgages now available for buy to let has imporoved dramatically as lenders adapt to the situation now.

"They are starting to adapt a bit more of a common sense approach now and look at the cases overall and say, 'This guy is probably a good bet, we will lend him the money'."

A case in point is Paragon Mortgages.  They recently reported that 47 per cent of buy-to-let mortgages were for landlords seeking to increase their current portfolios. This is up from 43% in the first quarter and could be related to surging rents as buy to own mortgages are still difficult to obtain.