Buy-to-let landlords are continuing to benefit from
falling mortgage rates, according to new data, despite policymakers saying they
are keeping a close eye on the fast-growing sector. The average rate on a
two-year fixed rate buy-to-let mortgage has fallen from 5.21% in 2011 to 3.32%
now, and rates on five-year fixed rates are down from 6.24% from 4% over the
same period. Data for January showed the number of loans granted to would-be
landlords increased 22%. The increase in borrowing was said to be fuelled by
changes to stamp duty which were announced in November to come into force this
month. Anyone buying a home that is not their main residence must now pay a 3%
stamp duty surcharge. Read more on the Guardian website.
No comments:
Post a Comment