Buy to let investors stay flexible
29 March 2004
Nearly half of buy to let investors are actively using the flexible features of their mortgage products, an industry survey has revealed.
The Mortgage Trust Buy-to-Let Survey found that over half of these (52 per cent) are using one of the most popular flexible features - the draw down facility - to fund further property purchases. Thirty-nine per cent of investors are using the overpayment facility explicitly to save for future buy to let investments.
Nicol Severn, marketing manager at Mortgage Trust, said: "Landlord confidence remains strong. With the recent government proposal to allow individuals to hold residential property in pension funds, investors will increasingly be looking for ways to expand their portfolios.
"Flexible mortgage products which boast features such as overpayment and draw down facilities, provide the ideal savings vehicle for investors to fund further investment property purchases.”
The quarterly survey is based on more than 450 replies to a questionnaire completed by a panel of independent residential landlords.