The best deals at the moment are 60% loan to value although I have come across 80-85% but these are very expensive. The main lenders are BM Solutions and the Mortgage Works, followed closely by Clydesdale Bank and the Bank of China but I understand there are twenty new lenders coming in to the market so it really does appear to be opening up.
With the Bank of England regulating banks now and checking people can afford mortgages, there is much tighter control. It is essential for the housing infrastructure that the Private Rental Sector continues to grow but with first time buyers who play a vital role in the housing ladder still struggling to get a mortgage, there is an imbalance.
Funding has dropped 81% since 2007 in 2009, it dropped by 69% compared to 2008. There are 1400 less products than in 2007 but this is obviously now on the increase. There does appear to be a recovery in the Buy to Let market with competition back. Professional landlords are a good risk to lenders and the Buy to Let market is profitable for them.
