The Mortgage Works come to the party

At least one lender still thinks that there is still some further froth left in the buy to let market. As many private landlords decide to cash in their chips and sell their stock The Mortgage Works have made an interesting entry into the limited company BTL space. Previously the domain of the likes of Precise, Shawbrook and Aldermore, there have been a couple of lenders who have decided to break ranks and enter into what is still a small market. The Mortgage Works (the BTL arm of Nationwide Building Society) join with Lendinvest in dipping their toe into limited company territory. Although The Mortgage Works are currently trialling the BTL limited company moertgage with a small group of brokers , it is envisaged that this will start to be rolled out to all brokers in Q2.

Will this lead to a whole raft of high street BTL lenders entering the market? As interest rates are looking to increase in the coming weeks as inflationary pressure inevitably begins to bite into the economy the entry of two big guns will lead to much needed competition and a downward pressure on fixed rates. At last some good news for the beleagured BTL investor.