Buy-to-let landlords 'not monitoring mortgage market'

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Buy-to-let landlords are losing hope of finding mortgage deals, according to new research.

A study by the Young Group highlighted that 24 per cent of landlords are checking their mortgage options every six months, compared to 80 per cent a year ago.

However, the firm has warned that not checking the market regularly may prevent buyers from getting the best deals.

Neil Young, chief executive of the Young Group, said: "Just because there are fewer mortgage products available, investors shouldn't take their eye off the ball.

"Arguably, now is the time to be paying more attention to the mortgage market to avoid the risk of losing out when the base rate inevitably rises in the future."

Mr Young added that mortgage rates are altering rapidly at the moment and attractive deals are often snapped up soon after release.

The This is Money buy-to-let barometer recently indicated that many people are still inserted in becoming a landlord.

An 85 per cent surge in interest was seen in the early months of 2009 compared with the same period last year.

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2009-07-08 13:26:59 © Moneyextra.com

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