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October, 2011
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Buy to let mortgage products in the UK rise by a quarter

The total number of buy to let mortgages on the UK market has risen for the third quarter in a row and is now 26% higher than in the second quarter, according to broker Mortgages for Business.

The total average number of buy to let mortgage products currently on the market stands at 508 compared to 403 in the previous quarter. There was one new entrant to the lending market over the last three months taking the total number of BTL lenders to 23.


 The rise in products and lenders is a result of the race to keep up with the demand from buy to let investors as property prices wane and rental demand grows. Despite growth in the number of owner occupier mortgages and loans suitable for first time buyers, demand for rental property continues to push rents higher and drives the growth of average yields.


Complex buy to let deals continue to provide the best yields for professional investors. However, new products introduced over the last quarter aimed at investors looking to purchase smaller Houses in Multiple Occupation (HMO) have caused yields for this type of property to fall slightly.


The average yield for HMOs is now 9.3%, down from 10% in the second quarter. These new products have also caused average LTVs for HMOs to rise to 66% from 60% and average loan sizes to fall from £321,836 in the second quarter to £292,969 now.


WebLetz a Cardiff Letting Agent provides a host of letting agent solutions for landlords in Cardiff and across South Wales including:
·         £120 Professional Tenant Finders service
·         5% Property Management  fee
·         Rent Guarantee and Rental Income Insurance
·         HMO tenant finders and property management services
Webletz a Cardiff Letting Agent can be contacted via email  or by telephone 0845 496 0000.
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We have tenants available and looking for properties across Cardiff including Adamsdow, Splott, Tremorfa, Roath, Llanedeyrn, Cyncoed, Penylan, Rumney, Llanrumney, Trowbridge, St Mellons, Plasnewydd, Pentwyn, Pontprennau, Llanishen, Rhiwbina, Pantmawr, Coryton, Tongwynlais, Morganstown, Radyr, Radyr Court, Fairwater, St Fagans, Llandaff, Ely, Caerau, Culverhouse Cross, Canton, Leckwith, Grangetown, Cogan, Llandough, Penarth, Dina Powys, Cardiff Bay, Butetown, Gabalfa, Llandaff North, Thornhill, Heath, Maindy and Cathays
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