Buy To Let Lenders Soften Lending Criteria
2010 is proving to be a profitable year for property investors, following announcements from 3 leading lenders of their plans to reduce their buy to let deposit sizes by up to 20%.
The 3 banks believed to be leading the way with this initiative are NatWest, Nottingham Building Society and London & Country. Once launched it is hoped that these deals will inspire other lenders to be equally as competitive.
London & Country
Offering property owners 3 year fixed rate loans of 6.49% with a LTV of 80%, London & Country have definitely set the standard for smaller deposit sizes.
Nottingham Building Society
Whilst their LTV’s may still be based around 70%, property owners can still take advantage of their 3 year fixed rate loan of 5.59% which is 0.3% smaller than it was a few months ago.
NatWest
Of these 3 lenders, NatWest are definitely offering property investors the most variety with their extensive range of tracker and buy to let mortgage deals:
- Their 2 year tracker 70% LTV loan can now be utilised for just 4.99%
- Interest rate changes have occurred across two of their 2 year fixed rates options: one 70% LTV deal has been cut to 3.55% (down from 3.69%) whilst the other has been reduced to 3.65% (down from 4.39%)
- One 2 year fixed rate 90% LTV deal has been increased from 4.99% to 5.69%
- One 3 year fixed rate 90% LTV deal has been increased from 5.89% to 6.59%
NOTE: All of these tracker deals have got an arrangement fee of £1,999. All mortgage loans have an arrangement fee of £999.
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- Can Mix And Match Mortgage Help Property Owners?
- Exclusive Buy To Let Deals
- Northern Rock Bounces Back!
- 95% LTVs Return
- Mortgage Confidence Grows 31%
Tags: buy to let, property investors, property market, property owners
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