What the papers said about older borrowers and the Buy to Let market

What the papers said about older borrowers and the Buy to Let market
The Guardian reported this weekend on a new mortgage deal designed exclusively for the over-55’s, and providing a glimmer of hope for older borrowers who have struggled to secure a mainstream mortgage. Available through a specialist lender, the mortgage is available up to the age of 95, and could provide a useful option for more mature homeowners, including those with interest only mortgages who are approaching the end of their term. As a population we are living and working longer, and experts have highlighted for some time the need for a more flexible approach to lending.

In the Buy to Let sector there was also good news, as the Telegraph revealed that the average 2 year fixed rate has dropped to 3.32%, down from 3.59% at this time last year. Mortgage brokers agreed that the appetite from lenders remains, and while activity may slow in the short term following the introduction of a higher Stamp Duty charge and the impending tax changes, securing the best rates available will help investors to cut their outgoings and soften the blow a little.

Talk of the additional Stamp Duty charge continued in the Times, as experts looked at the impact on the Bank of Mum and Dad, and suggested ways to help in a tax-efficient way, such as paying into a Help-to-Buy Isa.
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