Buy-to-let loans reach year’s high
THE number of people applying for buy-to-let mortgages has reached its highest level all year according to Haybrook Financial Services.
Figures from Sheffield’s largest independent estate agents show that the percentage of buyto-let mortgages processed in November reached 18 per cent of all mortgages – the highest level of all year. The average for the year is currently running at 14.4 per cent.
Haybrook MD David Miles says: “As the environment of a low Bank of England base rate continues, more investors are making strategic decisions around their exposure to the property market, which includes utilising buy-to-let mortgage schemes.”