Access to finance improves for landlords

Access to finance improves for landlords

We’ve been reading in the press that access to mortgage finance is getting better for landlords with every passing week.

This is according to Property & Finance Solutions (PFS) who say the availability of higher loan-to-value buy-to-let mortgages is improving.
Darren Owen, director of PFS, said “The criteria changes all the time. The lenders are starting to be a bit more flexible.

“They are starting to adapt a bit more of a common sense approach now and look at the cases overall and say, ‘This guy is probably a good bet, we will lend him the money.'”

The comments follow the release of figures from Paragon Mortgages showing that 47 per cent of buy to let mortgages in the second quarter of the year were for landlords looking to expand their portfolios. This is up from 43 per cent in the previous three months.

Many of the landlords we know stay it is still difficult to secure a mortgage and therefore they’re finding it harder to expand their portfolios and take advantage of the strong rental market. How are you finding access to finance? Is the market improving? leave a comment on our blog.