Britannia joins buy to let market

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

Available as two and five-year fixed deals, a two-year discount tracker and a lifetime tracker, the products have something to offer a savvy investor looking to enter the Buy to Let arena.

Unlike competitor offerings, Britannia's product range allows the borrower to let to family members. A recent Britannia survey shows that more than half (57 per cent) of potential Buy to Let investors would like this family-friendly option.

Neville Richardson, Group Chief Executive at Britannia, said: "Our Buy to Let range could be perfect for parents whose children are planning to go to university as it will enable them to invest in property and provide a home for their child. In fact our survey showed that 42 per cent of potential Buy to Let investors felt that their property would be better maintained if it were rented to a family member."

Buy to Let mortgages are also a way of creating income, securing a future investment and providing a retirement nest egg - a prospect that 67 percent of under 44s would consider in the future, according to Britannia's research.

The survey results also reflect the rise in popularity of Buy to Let mortgages. It revealed that 59 per cent of 16 - 44 year olds have already bought or would consider buying a house or flat to rent out.