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Over 1,000 buy to let mortgages now available

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Tue 01 Sep 2015

Over 1,000 buy to let mortgages now available

 

The number of buy to let mortgages available in the market has hit 1,000 which is the highest level since 2008..

Moneyfacts reports that product numbers have soared and attributes the boom in deals to new demand from thousands of pensioners making the most of the new pension freedoms.

Charlotte Nelson, finance expert at Moneyfacts.co.uk, said: “With high rents and poor savings rates, it’s little wonder that the buy to let market is booming, with the number of deals hitting the 1,000 mark for the first time in over seven years.

 

“Unsurprisingly, the growth in products has been accompanied by falling average rates, which have dropped by around 3% over the same period. This can help many borrowers to make easy savings, which means that they can generate even bigger returns on their investment.”