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Buy to Let Mortgages | Finance

Landlords still need mortgage funding support

Nigel Terrington, chief executive of The Paragon Group of Companies, comments on latest buy-to-let lending and arrears figures from the Council of Mortgage Lenders: ‘Today's arrears figures demonstrate the robust credit quality of buy-to-let lending and the strong performance of landlords, even in a recessionary environment. The overwhelming majority of landlords are experiencing growing levels of tenant demand for their properties, which is reflected in low void periods and healthy yield returns. Paragon's own arrears level is significantly below that of both the buy-to-let and wider mortgage market.

Buy-to-Let repossessions increasing

Kesh Thukaram, managing director of Smartlandlord.co.uk, comments on CML buy-to-let figures: "It's not a surprise to see the number of buy-to-let repossessions increasing. In the current environment, rental arrears are a rising problem for landlords - and increasingly they're getting landlords into arrears with lenders."

Buy-to-let lending falls

New buy-to-let lending declined in the first half of 2008, with the sector affected by the same conditions constraining the wider mortgage market, according to new data from the Council of Mortgage Lenders.

Long and winding road down for buy to let landlords

Mortgage products available for buy to let borrowers have dwindled from 4,384 to 307 in the past year. On top of the scarcity of products, buy to letters face steeper interest rates on those still available, according to figures from price comparison site moneysupermarket.com.

Woolwich cuts rates on buy-to-let mortgages

Woolwich is substantially reducing the interest rates of key buy to let mortgages, with the portfolio lifetime tracker reduced by 0.40 percentage points, and the five year fixed rate mortgage reduced by 0.50 percentage points.

The Mortgage Works launches new buy to let mortgage

The Mortgage Works (TMW), the specialist lending subsidiary of Nationwide Building Society, has launched a new two-year fixed-rate buy to let product and reduced its five-year fixed-rate buy to let products.

The Mortgage Works launches new buy to let deals

The Mortgage Works (TMW), the specialist lending subsidiary of Nationwide Building Society, has launched two new buy to let products.

New buy to let fixes from Godiva Mortgages

Godiva Mortgages, the specialist lending subsidiary of Coventry Building Society, is launching two new buy to let mortgage products.

Buy-to-let range shrinks 23 per cent in seven days

Analysis by moneysupermarket.com shows the number of buy-to-let products has dropped by close to a quarter in the past week, throwing down a major challenge to a struggling sector of the market.

NLA takes hassle out of finding best buy-to-let mortgages

NLA Mortgages, the free-to-use online sourcing and quotation system which also offers a significant cashback for landlords, is now making daily checks across the mortgage market to find the best mortgage products for UK landlords.

Rent guarantee insurance can help prevent BTL repossession misery

Keshav Thukaram, managing director of Smartlandlord.co.uk, the property services website for landlords, calls for more awareness of rent guarantee insurance among buy to let landlords. "Mortgage arrears in the private rented sector are rising, particularly as a result of tenants failing to pay their rent. In uncertain times, landlords need to protect themselves against this."

Buy-to-let lending continues to decline

New lending for buy-to-let continued to decline in the fourth quarter of 2008, according to the Council of Mortgage Lenders (CML). There were 37,000 new loans, worth £3.9 billion - 12% down (19% by value) on the third quarter, and 56% down (65% by value) compared with the fourth quarter of 2007. The CML only began collecting quarterly buy to let data in 2006, but on the basis of previous half-yearly data this is almost certainly the lowest quarterly lending figure since 2003.

Landlords need to position themselves defensively

Keshav Thukaram, managing director of smartlandlord.co.uk, the property services website for landlords, commented on today's base rate cut: ‘Today's cut in base rates will come as some relief to those lucky landlords on tracker products facing the prospect of falling rents. However, most landlords on fixed rate deals and other products will not benefit in line.