Improving BTL Criteria - At Last

Author: Steve Olejnik Posted on: 15 November 2009

Following the withdrawal of many BTL Lenders and the tightening of BTL criteria, many property investors have found it hard to find finance. Those looking to purchase properties with cash and raise finance straight away have found it particularly hard to get over the “6 month ownership” rule. Developers have also found that options are limited when looking to hold on to stock and arrange medium term finance to either release cash and / or repay development finance.

 

It is therefore welcome that, at last, new lenders are entering the market and taking a more commercial view. The recent product offerings from the likes of Aldermore and Tiuta are good news for property investors and with the mainstream BTL lenders also looking to review and improve criteria there is light at the end of the tunnel!

 

At a time when mortgage options are complex and High Street lenders are cautious, it has never been more important to seek the advice of a mortgage broker. Brokers will have access to the whole of the market including those new and niche lenders looking to fill the gaps caused by the credit crunch. If you have been struggling to find finance for a recent property transaction then now is a good time to speak to a specialist broker.