Insurance News Archive

Block of flats insurance holders 'finding mortgage access improving'

The economic climate for those with block of flats insurance is improving and this is allowing greater access to mortgages, an expert has claimed.

David Whittaker, managing director of Mortgages for Business, has asserted that most of those who are currently struggling are landlords who have been the victim of bad credit in the last two years.

He said that, prior to the downturn, some lenders would turn a blind eye to prior credit issues but now they are in the recessionary market this has changed.

"The market has turned and there is more money available for those of reasonable credit and reasonable organisation. Essentially, we are back where we were four-and-a-half or five years ago and the market was absolutely fine," Mr Whittaker asserted.

Recent research by LSL Property Services has found that 28 per cent of landlords intend to expand their portfolios in the next 12 months, with 48 per cent believing that the buy-to-let market is attractive at the moment.

Posted by Michael Brown

27 Apr 2010