Buy-to-let investors feel squeeze
While people able to invest in buy-to-let property continue to enjoy healthy returns, opportunities for people to get into the market appear to be diminishing.
That is the opinion of David Hollingworth from London and Country Mortgages, who noted that maximum loan-to-value (LTV) mortgages are steadily falling.
According to the property expert, the average LTV offer on new-build rental flats and apartments is now between 75 per cent and 85 per cent - and the majority of fixed and tracker deals are no longer on the market.
Mr Hollingworth explained: "Everyone has been showing a much reduced appetite in this area due to issues around the transparency of builders' incentives, the real value of the properties and major fraud."
According to MoneySupermarket.com, the number of buy-to-let loans on the market has fallen from 4,025 to 674 over the course of the past year, with 600 being dropped in the past month alone.
Published 8th May, 2008
© 2008 Estates IT Limited
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While people able to invest in buy-to-let property continue to enjoy healthy returns, opportunities for people to get into the market appear to be diminishing.