Abbey launches new mortgage for landlords
A new targeted product is to be launched for landlords with few properties.
Mortgage lender, Abbey for Intermediaries, has revealed that it is looking into releasing buy-to-let mortgages for amateur landlords. Alan Mathewson, the Abbey for Intermediaries manager, said that the firm is well placed to serve the sector very well, targeting their products at landlords with only a few buy-to-let properties.
"We constantly review all areas of the market and one area we are taking a close look at for next year is the buy-to-let market, specifically the non-professional landlord sector, those landlords who may have just a couple of buy-to-let properties," Mathewson explained.
He went on to add that the firm could service the market "efficiently and prudently" at the moment due to high demand for rental property, high rent yields and very low interest rates. All these factors combine to make it a very attractive environment for new buy-to-let mortgage holders.