Buy to let mortgage market 'may improve with new product'

11 May 2010

Written by Gavin Elley.

The buy to let mortgage market could get better for the consumer following an announcement from lender the Mortgage Works that it is raising the loan-to-value (LTV) on its products to an 80 per cent maximum.

David Whittaker, managing director at Mortgages for Business, said the introduction of the new products - the only ones available such a high LTV - show that lenders are gaining confidence in the market.

The Mortgage Works, he said: "Have made it clear they feel as optimistic as we do about buy to let's future ... finally, we're seeing a lender move the pieces on the chess board in a positive way."

Mr Whittaker added that many portfolio landlords have reached their maximum with mainstream lenders which has made it difficult for them to expand, but he believes that with the introduction of Mortgage Works' new LTV ratio raising competition, other providers may follow suit.

Why not take a look at our best Buy to Let mortgages and make an enquiry online now.