Lender confidence 'growing' - buy to let mortgages

07 July 2009

More lenders are starting to show confidence that the bottom of the recession is imminent, according to a policy adviser at the Building Societies Association (BSA).

What this means for landlords with buy to let mortgages is unclear, but it would seem that there are now more high loan-to-value products available to first-time buyers (FTBs).

The BSA's Victoria Barnard said that the FTB market is showing a strong demand for mortgages at present.

"There are signs of improvement [in the mortgage market]," remarked Ms Barnard, who explained that it is difficult to know when it can be considered that the end of a recession has been reached.

She added that recent house price drops have appeared "not as bad as they have been" in the last year.

Last month, the Council of Mortgage Lenders indicated that there was a 16 per cent increase in the number of mortgages for house purchases taken out between March and April 2009.

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