Increased buy-to-let products 'may mean more flats to rent'
People could be encouraged to look for flats to rent in the London borough of Merton when they learn there are more buy-to-let mortgage products on the market.
Lee Grandin, director at Landlord Mortgages, said products have improved over the last quarter, despite there being some restrictions.
He also said that over the coming months, there are likely to be more buy-to-let options available, which could improve the number of flats to rent for people to choose from.
However, Mr Grandin pointed out that the UK economy still needs to pick up if lenders are to start offering competitive deals.
"The financial services sector is still in the dumps at the moment," he added.
Last month, the Council of Mortgage Lenders revealed that in the second quarter of 2010, the number of buy-to-let mortgages taken out was 24,900.
This was compared to 22,000 in the first three months of the year.
Posted by Charles Mackay
Published 21st September, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
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There are currently more buy-to-let mortgages on the market and one expert claims the products have improved over the last quarter.