New Lenders Hit the Market

The Financial Times is reporting a boost to the buy-to-let sector as apparently new lenders  are entering the market. These are Precise Mortgages backed by US-based private equity firm Elliott Associates and Alderman Bank owned by venture capital company Anacap Financial. The FT quotes David Whittaker of Mortgages for Business as saying “The launch of two new buy-to-let lenders just a week after The Mortgage Works increased its loan-to-value on buy-to-let loans to 80 per cent is a very positive sign for the buy-to-let market”. Brokers however are also warning that these new lenders may not be attractive to many landlords due to their restrictive criteria requirements..

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