LETTING & ESTATE AGENT

Following the government’s update on 13th May 2020 regarding home moving in England during the Covid-19 outbreak, we are pleased to announce our branches in England will start re-opening their doors for booked appointments over the coming weeks. Health and safety remains our main priority, and a number of strict measures will be put in place to protect our staff and customers. Our offices in Scotland and Wales will continue to support customers from home. Visit our branch page to find contact details for your local office.

More buy-to-let deals for first-time landlords

More buy-to-let deals for first-time landlords

The number of buy-to-let mortgage deals available to novice landlords is on the rise, according to Moneyfacts.

The data analyst worked out there were 574 deals available to first-time landlords in April but there are 664 today, a 13% rise and 40% up on the 396 deals available two years ago.

Charlotte Nelson, finance expert at Moneyfacts.co.uk, said: “With the sector lying outside of the MMR, it is unsurprising that the number of buy-to-let deals has risen to an all-time high.

“With 60,000 pensioners utilising the new pension freedoms, it’s highly likely that some of this money has been accessed with buy-to-let in mind. Savings rates are currently so poor that many are looking elsewhere to fund their retirement.

“Buy-to-let providers are seeking to capitalise on this new pool of cash and are now offering more deals than ever to first-time landlords.

“With high rents and mortgage rates at record lows, the potential for big returns is high; however, this may not be the case forever. With base rate likely to rise at some point in the future, it is essential for those thinking about a buy-to-let mortgage to secure one now while rates are low.

“Buy-to-let is not without its risks and anyone seeking to enter this sector would be wise to seek the advice of a financial adviser to see if this is the best route for them.”


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