Tag Archives: Buy to let mortgages

Home repossessions fall

A report by The Council of Mortgage Lenders (CML) states that the rate of repossessions in the first quarter of the year was down by 17% compared to the same period last year.

Around 8000 properties were repossessed in the first three months of 2013 and The CML report that a fifth of those were buy-to-let properties.

In a separate report by The CML shows that the buy-to-let market is growing, the first quarter accounting for over 13% of the mortgage market.

The rise is being attributed to low interest rates and continued employment with The Bank of England today announcing that it will hold its record low benchmark rate at 0.5pc continued growth is predicted.

Buy to let set for a slow and steady come back ?

The first signs of the professional landlord returning to the market are now evident; none doubt that this particular area of financial investment has been one of the worst affected by the recent financial challenges. The main problem for buy to let investors has been the ability to obtain suitable finance; the sector has faced almost unbelievable figures of 93% of the once available mortgage financing disappearing from the market place.
There is now much speculation that this could be beginning to improve with the number of available mortgage products climbing from their historic lows of less than 180 to figures climbing up towards the 240 mark. The next six months is set to be a challenging time for the professional property investor but many believe those who can work within the current constraints will benefit from their efforts.