Buy-to-let options

When private house sales are hit by recession, aspiring home-owners often choose to rent until they can be sure house values have settled and a wide enough range of mortgage products are available once more.

Indeed, enquiries for buy-to-let mortgages have increased by nearly 50 since August 2008, according to moneysupermarket figures. However, available products have diminished by over 70% during the same period.

Furthermore, buy-to-let mortgage rates have not fallen by as much as mainstream mortgage rates following the decreases in the Bank of England Base Rate. Since August last year the average rate for mainstream mortgages has dropped by 1.95%, whilst buy-to-let rates have only fallen by 1.13%.

[Via http://businesssavingspost.wordpress.com]