Lenders remain positive about prospects for the buy-to-let market despite the Chancellor's tax crackdown. This is despite the fact that most expect the market to start slowing, according to the latest lenders survey. More than 80% of lenders recorded an increase in buy-to-let volumes over the last six months. Lenders remain positive about new sources of demand, with 91% of lenders expecting to see an increase in demand for limited company buy-to-let finance in the coming months. The survey also showed that 81% expect to see an increase in HMO finance and development finance, while 79% expect growth in bridging finance to be rapid. Nearly a quarter of lenders also felt the industry is unprepared for the legislative changes which recently came into place under the Mortgage Credit Directive (MCD). Of the lenders surveyed 75% stated they would continue to expand their product range to match the market demands. The consensus of opinion suggests that fixed term deals are going to be more popular than other standard and variable mortgages. Lenders reported a marked increase in re-mortgages over the last financial year as borrowers looked to take advantage of increased property values. Need some assistance: If you require help with a new or re-mortgage please do get in contact with one of our fully qualified advisers.
