New buy-to-let landlords are finding it difficult to obtain suitable mortgage as the number of products in the market tumbles.
With the number of available buy-to-let mortgages plummeting from 4,384 to just 213 in two years- a reduction of 95% - according to research by Moneysupermarket. The firm adds that buy-to-let mortgage rates have not fallen to the same extent as mainstream mortgage rates either, following cuts in the Bank of England base rate; since June last year the average rate for mainstream mortgages has reduced by 2.6%, while buy-to-let rates have only fallen by 1.51%. Banks are also demanding larger deposits from landlords - there are no buy-to-let mortgages left at 85% LTV, meaning prospective la...
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