Landlords' access to buy-to-let mortgages 'is improving'

Date:Tuesday 27th April 2010
Author: Max Freedman

There is more money available to landlords now than there was a year ago, according to a sector commentator.

Managing director at Mortgages for Business David Whittaker has described how the market for such investors is improving and those landlords who are struggling are probably the ones that have some bad credits on their record.

He stated: "It was a tricky time a year ago; it is not a tricky time now. The market has turned and there is more money available for those of reasonable credit and reasonable organisation."

In his view, during a bull economy, finance providers are not as fussed about ensuring that a landlord's accounting affairs are in order, but during a recession they may decide that they want to check that their books are up to date.

These remarks follow the news from LSL Property Services, which indicated that 48 per cent of property investors see the current buy-to-let industry as an attractive prospect.