Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property118. Read the original article for full details.
Buy to Let Mortgage Searches Decline in July, Says Property118
Buy to let mortgage searches slipped in July, according to Property118. Research from Twenty7tec found that search volumes for buy to let mortgages remained slightly below their level a year earlier.
The report notes that landlords are continuing to consider borrowing costs, taxation, and regulation before committing to new mortgage deals. In addition to the decline in buy to let searches, residential purchase searches also fell by 3% compared with June.
Letting agents and inventory clerks may wish to note these trends, as changes in mortgage search activity can impact the volume of new rental properties entering the market. The data reflects ongoing caution among landlords in the current lending and regulatory environment.
Source: Property118