A surge in new mortgage products confirms that buy-to-let is enjoying significant growth across the country.
Paragon Mortgages has this week introduced a new mortgage for single unit properties and HMOs and multi-unit blocks; the rate is fixed at an initial 5.49 per cent for a maximum loan to value of 75 per cent with a 2.0 per cent product fee.
The new offering follows news that the Post Office, along with its financial services partner the Bank of Ireland, is entering the market and launching buy-to-let mortgages at both 60 per cent and 75 per cent LTV - some come without an arrangement fee and include free valuation.
Meanwhile the NatWest says brokers are, unsurprisingly, more optimistic than in recent years about the prospects for the BTL sector. In a sample of 501 intermediaries, some 67 per cent said they saw increased BTL business in the final quarter of last year with just four per cent recording a drop.
A strong 74 per cent of brokers forecast more BTL business in 2014 than in the previous 12 months.
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