The Buy to Let Market
The Buy- to- Let mortgage market seems to be holding up against the current credit crisis in the UK, according to the Hamptons Mortgage Company. There have been several areas of mortgages that have suffered in the last year due to the spread of the mortgage crisis in the US reaching the UK market.
However, the Buy-to-Let industry is seeing a rise at least for the Hamptons. January showed an increase in Buy-to-Let mortgages of eight percent. This eight percent is up from the five percent of the previous month. It seems that the Buy-to-Let industry has had an overall increase by 33% in the last year. In other words more individuals are trying their hand at Buy-to-Let mortgages and property.
The purchase of home loans in the last month also showed an increase of two percent. This figure is down from a year ago in which the percent was twelve, but the increase is providing hope for many of the lenders as well as those seeking a mortgage. Jonathon Cornell is the director at Hamptons Mortgages and said that he hopes 2008 is the positive signal they have been looking for in Buy- to-Let mortgages as well as residential borrowers.