Over the past few months, there's been any number of stories about buy-to-let mortgages buoying up the property market. Interestingly, Moneyfacts.co.uk has now published research that shows the number of BTL mortgage products on the market has dwindled from over 2,000 in 2007 to just over 400 today.
What looks like bad news at first is actually a sign of improvement compared to 2009 when the number of mortgage products dropped to less than 200 for those looking to rent out that home.
On a daily basis, therefore, what does it mean for our investor clients? On average, buy to let mortgages are still easier to arrange than residential mortgages, especially when it comes to those with smaller deposits.
However, if you are looking to invest in property, being able to put down a sizeable deposit will give you a much bigger choice of mortgage products and access to better deals. As a consequence, it may be worth looking at a slightly smaller buy-to-let property - three or four bedrooms rather than six, for example.
One thing to bear in mind, though, is the fact that you should not compromise on the location. It's the one thing that can't be changed.
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Your blog about How popular is Buy-to-let really? is so informative. Keep up the good work.
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