Property Market Post COVID-19 

The buy-to-let mortgage market is showing signs of recovery after the number of deals nearly halved during the early weeks of the coronavirus pandemic. Many of our own clients are remortgaging their property in order to secure a better interest rate or free up capital for future investment. 

How are Lenders Reacting? 
The lending landscape is changing on an almost daily basis. We are seeing lenders tighten criteria for residential buyers with small deposits, for instance it is becoming almost impossible to secure a 90% loan on a property valued in excess of £500,000 and some lenders like Halifax have pulled all products for buyers who do not have at least a 20% deposit. That being said some lenders have been reducing rates on certain products and according to research by Moneyfacts “Across all loan-to-values (LTV), the average BTL mortgage rates on both two and five year fixed deals have fallen over the last five months.” For us, this suggests the market remains competitive and lenders are keen to do business.

How We Can Help You?
At present, there is increased volatility among lenders, who are adding and removing products at an unprecedented rate. With products and rates changing on a regular basis, it is more important than ever to ensure you have a dedicated mortgage broker who can keep track of changes and ensure you are securing a product that is both competitive and suitable to your circumstances. 

If you have any questions or would like to discuss options available to you, please contact our award-winning team who are accessible either by telephone or live webchat.

Tel: 0208 364 3444
Web: www.mortgagesandinsurers.co.uk