Wednesday, May 27th, 2020
According to a recent survey undertaken by Hamptons in March this year, which indicated that tenancy renewals were at their highest since 2008, many buy to let landlords may have received a timely boost. *
This is welcome news given that, following recent events, many believed that there would initially be high volatility in the buy to let market, which would then adversely impact landlords.
Hamptons’ report also suggested that as COVID-19 lockdown restrictions are further relaxed, it expects buy to let activity to increase given that for some, and particularly in times of uncertainty, renting can offer increased flexibility over and above the ideal of home ownership.
This then, when combined with the fact that almost 85 percent of buy to let mortgage lenders are still offering remortgage products, suggests that it will not be all “doom and gloom” for landlords. **
However, although buy to let mortgage lenders are still offering products, some have now tightened criteria and reshaped their pricing in line with recent changes to funding costs and reduced risk appetite.
It is worth remembering that even in the most challenging market conditions, a professional mortgage broker will always be able to help guide their clients towards the most suitable and cost-effective buy to let mortgage product.
As a specialist buy to let mortgage broker with many years’ experience, Caboodle Finance continues to provide expert advice to landlords regarding their properties and associated mortgages. Also, given that some lenders only distribute their products through reputable brokers, we can access products, interest rates, and loan facilities that are just not available on the high street.
With all that in mind, it is no wonder that many landlords choose to use a professional mortgage broker to source and process the mortgage. Here at Caboodle Finance, our buy to let mortgage advisers will always take account of any personal circumstances when making our tailored recommendations.
If you would like some help with all this, just call one of our experts here at Caboodle Finance of Sutton Coldfield, Birmingham on 0121 308 9114 in complete confidence, or alternatively click HERE to complete the online form and one of our friendly buy to let mortgage team will get back to you.
We very much look forward to hearing from you.
*Source – Mortgage Strategy April 2020
**Source – Mortgage Finance Gazette April 2020
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Caboodle Financial Services Ltd
Mere Green House
46-48 Mere Green Road
West Midlands B75 5BT
Telephone: 0121 308 9114