
Growing interest in buy-to-let from first-time landlords
Buy-to-let brokers are most commonly searching from criteria about mortgages for first-time landlords, research from Knowledge Bank has found.
In February it was the most-searched term by brokers, signalling that they are looking to find mortgages for first-time landlord clients.
Matthew Corker, operations director at Knowledge Bank, said: “The rental market in the UK is receiving a lot of interest at the moment. Perhaps as a result of the volatility in the stock market due to the pandemic, investors are turning to what they see as a safe investment.
“With house prices increasing in the past year and interest in rental properties also on the increase, this trend could be set to continue.
“However, with the government announcing they would back 95% loan to value mortgages, this may help more first-time buyers onto the housing ladder, and may see less looking to rent in the future.”
In the bridging sector, ‘Second charge loan’ was in the top five for the first time since October 2020.
This potentially is as a result of clients turning to second charge bridging loans inject capital into businesses, or make refurbishments in order to prevent disturbing their existing mortgages.