Buy To Let Lenders Soften Lending Criteria

Property investors have got a lot to look forward to over the coming year with leading lenders declaring their intentions to reduce their buy to let deposit sizes by up to 20% over the coming months.

NatWest, Nottingham Building Society and London & Country are leading the way with this initiative, and it is hoped that once this trend catches on others will quickly follow suit.


London & Country

Offering a 3 year fixed rate loan of 6.49% with a fee of £995, London & Country have definitely broken the ice by reducing the size of their LTV’s down to 80%.

Nottingham Building Society

Their LTV’s may still be at 70%, but property owners can take advantage of a 3 year fixed rate loan at 5.59% for 0.3% less than it was 3 months ago

NatWest

NatWest are definitely leading the way with their range of buy to let tracker deals and mortgages:

• A 2 year tracker 70% LTV loan can now be accessed for 4.99%
• Rate changes have occurred on two of their 2 year fixed rates: one 70% LTV deal has been reduced to 3.55% (down from 3.69%) and the other has been brought down to 3.65% (down from 4.39%)
• A 2 year fixed rate 90% LTV has increased to 5.69% from 4.99%
• A 3 year fixed rate 90% LTV has increased from 5.89% to 6.59%
• NOTE: all of theses tracker deals from NatWest have an arrangement fee of £1,999. All mortgage loans have an arrangement fee of £999.

Original Article

More About the Author

Fraser Stirling, Property Mentor Delegate

No matter what the media wants you to believe, property is still the only investment route where you can benefit from an asset that will NEVER go into zero value. Even when I was university I admired properties ability to withstand the economic elements and stay strong, even when other investment forms faltered or failed. X years on, I am now the proud owner of multiple property investments - one of which earns a passive income of £4,680 and my property portfolio is still expanding. Read more