Six lenders now offer 80% LTV buy-to-let mortgages

There are now six lenders offering buy-to-let mortgages with loan-to-values of up to 80%, according to data from Mortgage Flow, Mortgage for Business’s bespoke buy-to-let mortgage sourcing tool.

Between these six lenders there are 21 buy-to-let mortgages available at 80% LTV.

From December 2008 to May 2010 the highest achievable LTV for a buy-to-let mortgage was 75%.

On 9 May 2010 The Mortgage Works introduced a limited range of products to 80% LTV. Nine months Kensington introduced a solitary product to a headline hitting 85% LTV. Kensington has since withdrawn from buy-to-let lending.

The six lenders that offer 80% LTV now are Kent Reliance Banking Services, Saffron Building Society, Leeds Building Society, Aldermore Mortgages and as of today (27 January) Clydesdale Bank.

David Whittaker, managing director at Mortgages for Business, commented: “This is great news for landlords and investors and demonstrates the growing confidence of lenders in this sector who see buy-to-let as more profitable than homeowner lending.

“Between them, there is a good range of products on offer from two-year discounted trackers to five-year fixed rates. Some even come with flat arrangement fees which really start to make sense for investors looking to borrow larger sums.”