Category: Buy-to-let
Over the past year, total business investment in the UK reached £198bn.
The cost of renting has increased by 33% over the past 10 years to £747.
Looking to areas of improvement, Tan believes that lenders should embrace technology to increase speed, efficiency and automation within the private rented sector.
Rental properties across the capital are empty for an average of 24 days.
The lender has also upped the maximum loan size on 80% LTV products to £2m, on 85% LTV offerings to £1.5m and on 90% LTV deals to £1m.
There were 29,490 of these mortgages recorded.
The RLA cited the 3% stamp duty levy on extra housing added in 2016 as slowing down investment in new rented property.
The growing number of landlords opting for shorter-term rates has been fuelled by the shorter early repayment charge periods.
Over a quarter (27%) of landlords experienced an increase in tenant demand during the final quarter of 2019.
In 2019 there were 2.66 million landlords in Great Britain, 8% fewer than the 2017 peak.