The stats are getting weirder and weirder!

 

Q3 2009 buy to let mortgage market actually grew.  It is the first growth for 2 years.  So as buy to let mortgage products have reduced in size by 90% we have now seen a turn.

 

I know one thing.  Birmingham Midshires must be busy as they are really the main lender in this market.  Rumour has it there are more products on the horizon with higher LTVs.  Yes.  Higher LTVs.  I reckon that 80% product is coming very soon.

 

So there are some landlords quietly growing their portfolios.  And there are others SHOUTING about it.

 

Prices have never been so good.  Stuff 100 mile radius from London look really good.

 

CML Director Michael Coogan has said:

 

“…..the figures show that buy-to-let is here to stay”

 

Thanks for letting us know Michael!

 

Borrowing rates are 4.35%.  Yields are in Excess of 8%.  I make that Pimms o clock!

 

I think 2010 is going to be an interesting year for BTL.

 

Ajay

 

 

Posted on: 12th Nov 2009