11
Aug
Mortgage criteria for buy-to-let loans 'has improved'
Landlords looking to take out a buy-to-let mortgage have been given
good news after one expert has said that the criteria for taking
out a loan have improved.
David Whittaker, managing director at Mortgages for Business, said
that over the first half of 2010, there has been good progress made
over the relaxing of lending criteria for borrowers.
He predicted that these improvements are likely to continue through
the second half of the year.
His comments were made after Upad Rental Confidence Index,
published on Monday (August 9th), revealed that there was a boost
in satisfaction among landlords about the industry this month
compared with the last.
Chief executive of the firm James Davis added that while 69 per
cent of landlords said they had more security in the industry than
in June, there was the problem that banks "are still hoarding
savers' deposits".
He stated that buy-to-let finance should be improved more and loans
need to come out at a "sensible rate".