It took its time and now there are TWO lenders offering 80% LTV for buy to let properties.

 

It is early days and the product is being tested by selected clients.  If you want to give it a try and become one of our clients then speak to my in-house broker.

 

Just as I thought finance was becoming scarce this has happened.  We live in such uncertain times when you simply do not know what is round the corner.

 

The unemployment figures were a shock and I have to admit prospects do not look good for a small section of the UK population.

 

Interest rates will be low for a very long time until we get out of this recession.  Everyone says it will be very long but some how I think we will surprise all of us and bounce back out.  I am always the optimist though!

 

Now, when is an 85% coming back? And a 90%? Will it be before the end of the year?

 

I would not be surprised if there is a 90% buy to let mortgage for:

 

• Super clean credit borrowers
• Landlords with less than £1m borrowing and min 3 years experience
• 200% interest rate cover
• properties in nice areas

 

Who knows.  All I know is that it is a momentous week for buy to let as it is a clear signal that buy to let could be on its way back.

 

Need help? Speak to my team.

 

Ajay

 

 

Posted on: 16th Jul 2009