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West Bromwich charts buy to let mortgage boom

25 August 2005
The buy to let mortgage market is currently going strong, according to West Bromwich Building Society.

Contrary to recent reports suggesting that the market is facing a downward turn, the building society says it is on track to break all previous records for buy to let lending.

Demand for residential buy to let properties has risen steadily month by month, particularly in London and the south-east, and overall buy to let business has increased by almost half (48 per cent), West Bromwich has revealed.

James Taylor, mortgage product manager at West Bromwich, said: "There have been a number of well-documented predictions recently about the demise of this market.

"While the national story suggests that the market has slowed to some degree, as far as the West Brom is concerned, the market is still very much alive."

The building society attributes the buy to let boom to the fact that it offers a good, competitive lending rate for borrowers in this category.

To read more about buy to let mortgages, click here.

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