Mortgage Product Expansions
Moneyfacts have just reported that the number of mortgage products available is expanding.
In September last year there were 44 products available for people with a 10% deposit and now there are 197. Also products for those with a 15% deposit have risen sharply.
What does that mean for property investors?
Meanwhile there are just under 2,000 BTL mortgages available. And at the same time mortgage rates remain low and 2 year fixed deals on BTL mortgages remain below 3%.
Now, these facts seem strange when we’re in a pandemic when there’s so much doom and gloom in the world, but it does show that the financial services industry – and finance suppliers – are confident that the market will bounce back shortly, and frankly, they need the business!
Once again the property market, and property investing, will provide the security and financial immunity we all need.