The buy to let market is still flourishing as households are pushed into rental situations versus buying new properties.  Lending has tightened up and it will do so even more in the coming year.  Households are therefore increasing demand for good rental properties and vacancies are being filled quite easily.  The high demand for rental properties has brought in new investors into the buy to let market.  Landlords have been remortgaging to allow additions to their own portfolios.

According to recent data from haart financial services the number of buy to let remortgaging applications multiplied four times from 1.3 per cent in March to 5.3 per cent in April.  The estate agents have reported that remortgages have risen to the highest level so far for 2012.  Lenders are helping by offering many buy to let products for perspective and existing landlords to help their efforts.

David Miles, managing director of haart financial services, said, “Our latest figures show that experienced landlords are happy to continue to invest in property by expanding their portfolios to meet the high tenant demand in many areas of the country.

“It is also interesting that some homebuyers are using the equity in their current properties to invest in buy to let for the first time.

“Whilst lending criteria understandably remains risk averse, there are still many great opportunities for landlords to maximize their yields from all sorts of property across the country and my feeling is that our buy-to-let lending will continue to grow during 2012.”