Huge Rise in Buy to Let Mortgage Applications

Dec. 5, 2011 - PRLog -- Increased Demand in Buy to Let Mortgages

Buy to Let Mortgage demand continues to increase, with increased loans and total lending value both steadily rising. Ascot Mortgages Ltd, based in Warrington, Cheshire, reported a significant upward shift in the number of mortgage applications they have processed on behalf of their Buy to Let Investor clients in the 3 months up to December  2011.

This comes as the Council of Mortgage Leaders also report an increase in approved Buy to Let Loans http://www.ascotmortgages.co.uk/buy-to-let

“The number of new buy-to-let loans increased by 16% in the third quarter of 2011, according to data published today by the Council of Mortgage Lenders. Over the same period, the value of mortgages advanced in the sector grew by 19%. The data shows that the pick-up in buy-to-let lending that began in the second quarter has continued.”

Kevin Gibson, Managing Director of Ascot Mortgages Ltd says “There is strong demand for rental property at the moment due to the shortage of affordable homes and the difficulty people are having raising the deposit whilst wages are stagnating - this strong rental demand makes Buy to Let Property Investments very attractive - And it’s not just the seasoned property investor taking advantage of the strong rental market either, as we are noticing many new landlords entering the rental market with their first Buy to Let Property.”

In the three months to September, a total of 34,500 buy-to-let loans were advanced, an increase from 29,700 in the preceding quarter. The value of lending totalled £3.8 billion, up from £3.2 billion. On both measures, buy-to-let lending was at its highest level since the final quarter of 2008.
The number and value of outstanding buy-to-let loans also continued to grow. At the end of September, there were 1,378,700 loans outstanding, worth £157 billion, up from 1,296,700 (worth £150 billion) 12 months earlier.
“Whilst the [tenant] demand is clearly very strong, and looks set to remain strong well in to 2012 / 2013 Buy to Let Property is going to remain a very attractive investment, but you need to make sure you find the best Buy to Let Mortgage deal to make the most of your investment.”
Ascot Mortgages Ltd provide a specialist mortgage advise service tailored to meet the needs of landlords and property investors, whether they are first time investors, or they already have a significant property portfolio. We offer expert help to source the best Buy to Let Mortgages on behalf of our Landlord clients, and we fully manage the application process in-house to make sure your application is processed quickly, and with the weight of an experienced mortgage broker behind it.
Call us today - We offer free initial mortgage consultations, either in person or over the telephone.
-   Ascot Mortgages Ltd – Your Buy to Let Mortgage Specialists
-   Telephone: 01925 711558
-   Email: enquiries@ascotmortgages.co.uk
-   Web http://www.ascotmortgages.co.uk
-   Ascot Equity Release, 4 Webster Court, Warrington. WA5 8WD

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