Please Note: This Article is 3 years old. This increases the likelihood that some or all of it's content is now outdated.

Average deposits for buy to let investors at the end of last year were £49,146, according to research for leading lender BM Solutions.

But the amount varied widely between investors in London and those outside the capital.

In London, the average deposit was £119,750, while in the North; the amount was only £27,710.

BM Solutions also revealed buy to let purchases were 28% up year-on-year at 46,430 for the second half of 2013, but still running at less than half of the 96,640 sales recorded at the market peak in 2006.

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The study also showed average gross rental yields dipped to 5.5% in the second half of 2013 from 5.6% in the same period of the previous year.

Mortgage Trust has released new fixed rate and tracker buy-to-let mortgages at 80% loan-to-value.

The range includes a two-year fixed rate mortgage with a 1.75% fee at an initial rate of 4.10%.

Another two-year fix starts from 4.95% and comes without a fee.

The two-year trackers start at 3.70% with a fee of 2% or 4.70% without a fee.

John Heron, managing director of Mortgages, said: “We are confident that high credit standards can be maintained at these levels and our extensive data on many years of buy-to-let lending supports this.

“A primary requirement of landlords is to generate an optimal return on capital.

“Subject to a strong affordability profile these products will assist landlords in doing just that.”
These are limited quota products and all benefit from a free valuation.

Saffron for Intermediaries has lifted minimum income requirements for buy to let borrowers.

Previously, landlords needed to show a £25,000 annual gross income.

Now, the building society wants one mortgage applicant to show they receive earned or pension income as a UK taxpayer.

The maximum loan-to-value has also risen to 80% for fixed rate buy to let mortgage applications.

Please Note: This Article is 3 years old. This increases the likelihood that some or all of it's content is now outdated.

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