Almost half of
UK mortgage lenders believe that better value products would spur growth in the
buy-to-let mortgage market.
According to a study conducted by mortgage provider Alliance & Leicester, 43 per cent of mortgage
lenders are calling for better
mortgage rates and flexibility for buy-to-let customers.
In London, 59 per cent of mortgage lenders are urging this, while 81 per cent in the south-west are calling for the change.
Mehrdad Yousefi, head of intermediary
mortgages at Alliance & Leicester commented: "Brokers expect to see the same degree of intense competition and product innovation as they have come to expect from the prime lending market.
"They understand that this market will need good value products to sustain and assist the kind of growth they are expecting.
"There is no doubt it will drive competition up and will promote better products that are suited to brokers and their clients."
Last year there were a record number of buy-to-let mortgages in the UK and the market has grown by almost 20 per cent in the last two years, according to statistics from the Council of Mortgage Lenders.
More than half of mortgage lenders in the UK surveyed stated that they believed the buy-to-let mortgage market would continue to grow in the next two years, with 19 per cent optimistic that it could be as much as ten per cent.
