Buy to Let Mortgages

Bank of Ireland Mortgages (BIM) will further expand its Professional Buy to Let proposition by adding a range of Light Refurbishment products.

The Mortgage Works has increased the maximum LTV for non-status rental calculations from 70% LTV to 75% LTV on all buy to let products, and has also made a number of additions to its buy to let offering.

Norwich and Peterborough Building Society (N&P), is launching two new buy-to-let base rate tracker mortgages, with immediate effect, for branch and contact centre customers.

Alliance & Leicester is launching a new range of Buy-to-let and PlusMortgage deals. The new range is available from Wednesday 23 May and includes:

Another set of strong financial results from Paragon provides further evidence of the sustained strength of buy-to-let.

Prime buy-to-let mortgages now make up 21% of financial advisers’ business – nearly double the 11% of the mortgage market that CML H2 2006 figures showed.

Rental growth is at its highest ever level according to research by Paragon Mortgages.

Leeds Building Society has launched a new buy-to-let lifetime tracker mortgage at only 6.24%.

Britannia Building Society has entered the growing Buy to Let market with a range of new mortgages.

Leeds Building Society is today launching a new 3-year fixed rate buy-to-let mortgage product at only 5.75%, which is specifically designed to suit the needs of landlords looking for a competitive fixed rate and to protect themselves against any future rises in interest rates.

Almost two thirds of buy-to-let investors have borrowings of less than half their investment portfolio, according to the most recent research by Paragon Mortgages.

Mortgage brokers report that 2006 brought a 19% increase in the proportion of their buy-to-let business, according to Mortgage Trust.

The number of properties in the average landlord’s portfolio has risen since last quarter, according to the most recent research by Paragon Mortgages.

Buy-to-let landlords are actively acquiring additional rental properties to add to their portfolios, with intermediaries arranging the vast majority of the mortgages required to finance these property purchases.

The ARLA Group of Buy to Let mortgage lenders has been joined by Bank of Ireland Mortgages and Cheltenham and Gloucester. They join GMAC Residential Funding, Mortgage Express, NatWest and Paragon Mortgages.