Investors expanding property portfolios

An increasing amount of buy-to-let business is being attributed to current investors wishing to expand their property portfolios, according to research from Mortgage Express. The lender found that 44% of applications for drawdowns on buy-to-let mortgages were for further property purchase. This figure exceeds the traditional drawdown favourite of funding refurbishment and improvements, with just 34% of applicants listing it as the reason for the loan. Other reasons for drawdown listed by applicants included business investment, acquisition and funding a new car. According to Roger Hil...