Buy-to-let borrowing rates are now back to their lowest
levels since before the recession. Some rates are fixed as low as 2.4%, though
these types of deals do require a large deposit of around 40%. Rates have been driven down partly by the growing number
of people renting city properties, while lenders are slashing rates to attract
new customers. The reduction in rates,
and steady rise over 2013 in buy-to-let lending, is fuelling fierce competition
between landlords and would-be first-time buyers. The rental market is also
contributing to the competition due to a wider reversal in the trend of home
ownership. Roughly 10 million people now live in homes rented from private
landlords. That's double the number who did back in 2000. Read more on the Sky
News website.
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