29-04-2008
Product withdrawal won't hit buy-to-let market
News by Adfero for Simply Business - independent providers of public liability insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
The UK's buy-to-let mortgage sector should continue to "perform well" during 2008, despite the withdrawal of many mortgage products from the market, a major industry body has claimed.
Rental demand throughout the country remains high and this should see the buy-to-let sector through some potentially tricky times, specialist broker the Business Mortgage Company (TBMC) stated.
Recently, a number of the UK's largest mortgage lenders have withdrawn many products from the home loan sector as a result of the effects of the recent credit crunch tightening lending criteria.
However, a spokesperson for TBMC claimed that rising rents may mean landlords are able to negotiate good deals on new properties for their portfolio.
She added: "The key factors driving the buy-to-let market are still strong. There are rising levels of tenant demand as people wait to see what happens in the housing market before purchasing."