x
By using this website, you agree to our use of cookies to enhance your experience.
Graham Awards

TODAY'S OTHER NEWS

Landlords hunting cheapest mortgages in growing numbers

Mortgage industry tech firm Twenty7tec says March 2023 saw the highest-ever volume of Buy To Let mortgage searches in a single month on its platform.

Some 347,419 mortgage searches for Buy To Let mortgages were handled in March. 

This represents a 12.6 per cent increase on the volume of Buy To Let searches in February 2023.

Advertisement

Spokesperson Nathan Reilly explains: “March saw overall mortgage searches records set and this was also true for the total number of Buy To Let mortgage searches which we handled. In fact, ten of our busiest ever 12 months for BTLs have been over the past year.

“The proportion of BTL mortgage searches has, however, been dropping over the past few months since a 12-month high in September 2022 of 20.69 per cent to March 2023’s figure of 18.75 per cent.

“The new record levels of Buy To Let searches have not yet translated into record levels of Buy To Let documents being created, so it seems as if landlords are having a look, but biding their time a little. 

“The March 2023 drop in availability of mortgage products with a maximum Loan To Value of 65 per cent which means that we have a bit of a mismatch between landlord demand and lender supply at the moment.” 

Want to comment on this story? If so...if any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals on any basis, then the post may be deleted and the individual immediately banned from posting in future.

  • icon

    Why is this news?

    Landlords chasing highest cost mortgages in growing numbers would be news.

    On the other hand Government chasing lowest cost option for anything would be real news!

  • Sarah Fox-Moore

    An article reporting the blindingly obvious.

icon

Please login to comment

MovePal MovePal MovePal
sign up