Financial Times - Lenders step up buy-to-let offers as demand rises
Lenders are offering more buy-to-let mortgages " with better rates on smaller deposits " in response to soaring demand from landlords over the past year.
Specialist buy-to-let lender Mortgage Trust has also launched a range of mortgages for landlords with only 20 per cent deposits. It includes two-year fixed deals, one with a rate of 4.10 per cent and a 1.75 per cent fee, and the other with a 4.95 per cent rate and no fee.
Aaron Strutt, broker at Trinity Financial, said many lenders previously demanded deposits of 40 per cent to access the best rates. He added that the two deals with fees are best buys in the market for borrowers with 20 per cent deposits.
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February 15, 2014
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