This compares with 15.3% at the start of the year. What’s more, over two thirds of landlords are opting for fixed term deals in a bid to provide them with greater financial security.
The growth in Buy to Let in part has been fuelled by the continued demand for residential rental properties and annual yields of close to 10% available to landlords on properties in certain parts of the UK.
haart has a network of mortgage advisors based throughout its branch network processing some 200 mortgage applications per week.
David Miles, Managing Director of haart Financial Services, comments:
“Our latest figures show the continued growth of the Buy to Let market as landlords look to expand their portfolios to meet the high tenant demand in many areas of the country.
Although lending criteria remains tight, there are certainly products available to applicants, and we would expect this sector of the market continue to grow throughout the remainder of 2012 and beyond as it increasingly underpins the UK property sector as a whole.”
