Buy to let mortgages just got easier

Increased competition in the buy to let mortgage arena shows with looser lending criteria. The Yorkshire building society has expanded its range of mortgage products to include properties with a value of less than a £100,000 and for applicants with incomes of £20,000 rather than the £35,000 previous figure. Although house prices have stagnated the growth in rent inflation has encouraged both landlords and banks to place their funds back into the property sector. The Co-operative bank has also pledged to increase funds to the buy to let mortgage sector by another third. All this has lead to triple the number of buy to let mortgage products available to landlords.