I wouldn't exactly say the buy to let mortgage market is overheating at the moment, but there definitely seems to have been some more changes for the positive. In the last couple of weeks we've seen a couple of new products come to the market - the 85% buy to let product detailed below (and also a new BTL refurbishment mortgage product).
Best quote of the last couple of weeks is definitely from Matthew Wyles chairman of the Council of Mortgage Lenders. He said the Financial Services Authority sees mortgage lenders and mortgage intermediaries as the drug-dealers at the "school gates" of the mortgage market.
He muses, "Regulators see lenders and intermediaries as the sweetshop owners - or worse, the drug-dealers at the school gates of the mortgage market, enticing innocent consumers in and then getting them hooked, for their own evil profit-driven purposes."
I just wanted to assure you that in no way, shape or form do I see myself as a sweetshop owner.
Thank you for sharing this to us.
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