Positive buy to let signs reported

17 November 2009

Written by David Whittaker

There have been a number of "positive signs" within the buy to let mortgage market in recent months, according to one expert.

Michelle Slade, spokesperson for financial information website Moneyfacts.co.uk, said that the sector is looking better than it was earlier this year, but landlords still have some obstacles to overcome if their businesses are to thrive.

Her comments come after Moneyfacts.co.uk indicated that the number of buy-to-let mortgage deals available in the UK grew from a record low of 179 in September 2009 to today's figure of 239.

Although this is an improvement over the short-term, availability is scarce when compared to the August 2007 peak period for the sector.

Ms Slade said: "Many landlords' biggest problem in securing a competitive deal will be finding the deposit needed, as previous house price falls are likely to have eaten into the equity available in their portfolio."

Nationwide Building Society and Halifax property prices indexes both suggest that house prices are considerably down on their autumn 2007 highs, but both surveys have reported inflation in values between the start of 2009 and now.

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