Buy To Let Mortgages Good In Spite of Crunch

Six out of ten mortgage professionals say that obtaining mortgages for buy to let investors is getting more difficult and 56% said they thought this would be the trend to the next six months.

The appetite to purchase buy to let properties is still flourishing and most consider it to be a safe investment.

Recently 103 mortgage professionals were surveyed, only 185 had seen an increase and a third had seen a drop in business volume. Interest rates and the lack of confidence in the market were blamed for the drop.

Nearly half of those surveyed said they thought that providers could lower fees with a further 16% saying that lenders could offer better rental calculations.

Investors looked more to a lenders reputation when choosing a mortgage; considered one in seven intermediaries.

There is some evidence that the number of buy to let customers is lower and this year it is possible only professional landlords will make a profit. Amateur investors may struggle this year especially if they are financially overstretched but for those with strong portfolios there are plenty of opportunities.

Buy to let investment is for making money so if money is not likely to be made then it is not the time for this type of investment to be considered. Profits were easily come by a few years ago; nowadays property investment must be considered a long term proposition.

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