Buy-to-let boosts Bradford and Bingley

03-May-2005

Buy-to-let mortgages are continuing to show strength and the industry remains a profitable area, according to Bradford and Bingley's (B&B) latest update.

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Despite difficult economic conditions, the mortgage provider revealed strong growth in the buy-to-let market as many aspiring first time buyers use rental accommodation as an alternative way to get their foot on the property ladder.

B&B also stated that the outlook is good for its yearly profits, thanks to its strong buy-to-let division and the fact that many aspiring homeowners continue to look to the company when searching for creative mortgages.

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The company also revealed that the property market will remain strong during 2005, shaking off concerns that there might be a crash in the market, and explained that more first time buyers are now looking to get a footing on the property ladder.

B&B announced that it is confident that the buy-to-let market will continue to prove profitable during the next 12 months, as many aspiring first time buyers find rental property an attractive alternative to purchasing their own home while house prices remain high.

Click here for advice on first time buyer mortgages or to find out how much you can borrow and how much it will cost you, from the UK's leading High Street Brokers, Bradford and Bingley

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