Birmingham Midshires: Buy-to-let mortgage lending could hit £19bn
The buy-to-let mortgage market is gathering momentum and lenders are looking to take advantage of the increase in demand. Buy-to-let gross lending totalled £5.1bn in Q2 2013, the strongest market performance for five years. This year alone, the market size increased by £0.9bn in Q2,2013 compared to the previous quarter.
Phil Rickards, head of BM Solutions, says: "At half year, the buy-to-let market is at £9.3bn and if it continues on this upwards trajectory it could exceed the market expectation of £19bn if the tail wind were to keep on blowing."
Evidently a large proportion of this will be new business; however, we are seeing remortgage activity picking up - increasing by 29% in Q2 compared to the previous quarter.
Trinity Financial has access to BM Solutions (Birmingham Midshires) mortgage rates and they are impressively low. They are offering a two-year fixed rate at 3.29% or a five-year fix rate at 3.89%.
Both mortgages have a £1,295 arrangement fee and they are available for mortgages between up to £1 million. If you would help to secure a buy-to-let mortgage, call us on 020 7016 0790.
August 23, 2013
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