Insurance News Archive
69% of landlord property insurance holders applying for mortgages
Posted by Jonathan Walker
The majority of landlord property insurance policyholders are continuing to apply for buy to let mortgages to finance expansions of their portfolios, according to new research.
TBMC's Landlord Profile Tracking Index for the fourth quarter of 2009 found that 69 per cent of applications for loans were for purchases, myintroducer.com reported.
The type of mortgage landlord property insurance policyholders are looking for has changed, with 70 per cent of applications being for tracker rates in the fourth quarter of 2009, compared to just 45 per cent in the previous three-month period.
"It is good to see that landlords remain confident about the buy to let market and are still seeking to expand their portfolios," Andy Young, chief executive officer of TBMC, told the news provider.
The figures follow research by Paragon Mortgages which found that 67 per cent of landlord property insurance policyholders who applied for a mortgage in the fourth quarter of the year said it was more difficult to secure the financing than in the previous three-month period.
26 Jan 2010
