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Buy-to-let affordability hits record high

Buy-to-let properties have become more affordable to landlords as the average maximum loan size reached its highest level on record last month.

According to a report published by Mortgage Broker Tools (MBT), the average maximum loan in January was £421,053, a £20,000 increase in just a month.

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The figure also represents a 13% increase when compared to the average from January last year. MBT launched its buy-to-let affordability index in August 2020.

“The latest MBT Affordability Index shows that the average maximum loan size available to buy-to-let investors is now larger than ever before. However, the spread between the average maximum and minimum loan sizes available to landlords has also never been wider,” Tanya Toumadj, chief executive officer at MBT, said.

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“For investor clients who want to maximise their leverage, it’s vital that brokers are able to easily identify those lenders that will offer larger loan sizes based on their individual circumstances.”

By Rommel Lontayao

Source: Mortgage Introducer

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