The Sunday Times - Northern Rock cuts rates as buy-tolet market starts to thaw
Northern Rock cut rates on buy-to-let deals last week, just as official figures suggest the freeze on such lending is thawing.
Aaron Strutt at Trinity Financial, the broker, said: “It is encouraging that Northern Rock is reducing rates for those with smaller deposits, which just about scrapes into the best buys. There are now more buy-to-let mortgage options available to investors and more lenders have come back in to the market — typically smaller building societies. The Mortgage Works is currently the busiest buy-to-let lender, offering investment mortgages to those with a 20% deposit.”
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