BTL mortgage demand rises as investors return to the market

BTL mortgage demand rises as investors return to the market

Todays other news
Government forecasts 500,000 additional renting households by 2035, but landlord...
Lisa Blythe is Property Recovery Solicitor at SE-Solicitors,...
FPCs will provide standardised information on flood risk and resilience...
Asking rents across large towns and cities have risen 6%....


There was a surge in demand for buy-to-let property in July, according to the latest data released by mortgage technology provider, Twenty7Tec. 

Advertisement

With significantly more tenants seeking homes to rent, buy-to-let properties are currently in high demand.

Advertisement

Affordability is a major factor forcing many people to rent with house price to earnings ratio increasing sharply over the past couple of decades, 

Advertisement

Lifestyle choices and changes are another major factor as to why renting is now preferable to buying for some people. 

Phil Bailey, group sales director, Twenty7Tec, said: “To say that July has been strong for BTL is an understatement. We only dipped below 10,000 BTL ESIS documents on one day all month – July the 1st. 

Advertisement

“Prior to July, we had not been above 10,000 documents per day at any stage. The search volumes may lag slightly behind earlier in the year, but when it comes to ESIS documents, we are well ahead of any time prior YTD.”

However, despite growth in demand from BTL landlords since lockdown restrictions were eased, there has been a notable dip in search levels for BTL mortgages over the past week or so. 

Advertisement

Bailey added: “Most days in July were among the busiest this year for BTL searches. At the end of July, however, the 7-day rolling average dropped back to beginning of the month levels.”

James Tucker, CEO of Twenty7Tec, believes that it will be interesting to watch what happens with the BTL drop off over the next few days. 

He said: “Was it a blip after the PM’s tightening of [the lockdown] rules nationwide or a pre-cursor to what we can expect in the coming months?”

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Landlord Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
The average advertised rent of homes outside London has risen...
Miniature house inside a transparent piggy bank for property investment.
Businessman interacting with digital interface of property management tools.
House for rent sign in front of a blurred residential property.
The figures come from lenders' trade body, UK Finance...
Tenants are increasingly discerning, claims the agent...
Is the answer to say No more often? Or to...
Recommended for you
Latest Features
Government forecasts 500,000 additional renting households by 2035, but landlord...
Lisa Blythe is Property Recovery Solicitor at SE-Solicitors,...
Sponsored Content
Property investment is a long-term strategy, but that doesn't mean...
The Renters’ Rights Act has sparked widespread discussion around rent...
Thinking About Selling Your Rental Property? Five Things Landlords Should...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.