Demand for buy-to-let mortgages remains broadly positive, despite widespread tax changes in recent years, according to One Savings Bank.
The lender – which owns the Kent Reliance and Interbay brands – says that this more positive outlook is based on “robust demand” from portfolio and incorporated landlords, as well as higher levels of remortgaging.
Posting its half-year results, the lender said admitted that this more positive outlook was tempered by a decline in demand from amateur landlords.
One Savings Bank chief executive Andy Goulding says: “Whilst regulatory and tax changes in the buy-to-let market have dampened industry-wide demand for new purchase mortgages, this has been partially offset by an increase in demand for remortgages.”
However he said that the bank remained focused on the professional buy-to-let market, where trends remained positive. .
He added: “The core buy-to-let segment is demonstrating robust demand from professional and incorporated landlords with high levels of refinancing partially offsetting lower purchase activity and reduced demand from amateur landlords.”