LETTING & ESTATE AGENT

Average BTL mortgage stands at £149,000

Average BTL mortgage stands at £149,000

The average buy-to-let loan application in the UK is for £149,000, according to the latest research from the National Landlords Association (NLA).

However, the range of buy to let loan values varies greatly across the UK, with one third (33%) of landlords borrowing between £50k and £100k to fund their letting property purchase.

Regionally, landlords in Central London borrow the most at around £228,000 – a difference of £141,000 when compared to the average landlord in Scotland, who borrows just under £87,000.

Carolyn Uphill, chairman of the National Landlords Association (NLA), said: “While these findings indicate that the current mortgage finance market is healthy, it shows that landlords, and their finance needs, are far from homogenous.

“Like any small enterprise, private-landlords are always looking for an opportunity to invest and grow and this is only possible if their individual circumstances are taken into account by lenders. In order to support the provision of homes where and when they are needed, landlords need access to tailored, affordable finance which makes investment viable.”

Landlords looking for a BTL loans should visit NLA Mortgages at www.landlords.org.uk/services/nla-mortgages where they can search and compare BTL mortgages.