According to the RLA the tables may be turning when it comes to Buy To Let loans. In fact, the RLA is making the bold claim that landlords may have the upper hand. Wouldn’t that be sweet?
In an article on their website this week the group claims that there has been a noticeable sea change in the attitudes of the financial lenders. They are showing a much greater willingness to entertain the idea of lending to landlords to extend their portfolios.
The RLA go so far as to say that one or two of their institutions are actively seeking out experienced landlords and targeting them with loan products. Apparently, their favourite among landlords is the type that has two or three properties and is looking to expand.
All that said, it is important to point out that the institutions’ focus seems to be very much on landlords that have quite a lot of experience and a proven track record. I guess they can be forgiven for having that attitude after the role that amateur landlords played in the last crisis.
If you fit their criteria though this is potentially very good news for you; with property at a fairly low price still this is your opportunity to grab a bargain. With loan products back on the table it is promising to be a very good year for some lucky landlords and one that they may benefit from for years.
