Tenent loans remain strong right now, in spite of the general economic downturn and the major problem in the lending arena. According to Michael Coogan, director general at the CML, “Tenant demand for private rented property remains strong, and buy-to-let is fulfilling an important role in helping to deliver an increased flow of high quality homes to rent. Buy-to-let has remained resilient in the face of the funding constraints that have affected the sector and the wider mortgage market” He added: “We expect to see a continuing healthy appetite for buy-to-let finance this year, in line with continuing expected consumer demand for private rental property.”
The tenent loan market is reaping the rewards of the growth that has been seen since 2006. Homes for rental jumped more than 13% in 2007, and many consumers are now seeking tenent loans for these properties. This may be one of the few areas left where you can still get a loan, despite the tightened wallets of many banks, thanks to this change. For those who need a tenent loan, experts are recommending that they get quotes from different banks since this is a competitive market and they can save a great deal of money.
Related reading: Tenent Loan
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