A survey of 18 mortgage lenders reports that the buy to let sector has seen a rise in mortgage deals of no less than 49 per cent in the past year.
The annual survey by software company IRESS reveals that the 2014 Mortgage Market Review continues to have an impact in terms of delaying mortgage agreements for all types of borrower, with the average number of days to offer – a key measure of efficient customer service according to the company – now significantly higher than before MMR.
This is despite a slight improvement on the 2015 delay.
“The most significant finding in the survey is the continued rise of the buy to let market” explains Henry Woodcock, principal mortgage consultant at IRESS.
“This sector has increased by more than 213 over the five years since the first IRESS survey but with the recent change of taxation around investment purchases for landlords, it seems unlikely that this stellar growth will continue” he says.