Real Estate

Landlords focusing on HMOs – PropertyWire

An increased number of brokers are searching for HMO mortgage products, reflecting that more landlords are taking on this investment type in search of higher returns.

Searches for these products increased by 20% in November, research from Legal & Geral Ignite found.

The number looking for a ‘second residential property’ also increased by 29%.

Kevin Roberts, managing director, Legal & General Mortgage Services, said: “The data… highlights the resilience of the overall mortgage market, with diverse trends among portfolio landlords and a sustained interest in capital raising, even during these uncertain times.”

Google searches for mortgages that allow a gifted deposit have risen by 10% – suggesting that more first-time buyers are being given a helping hand, data from Legal & General Ignite has revealed.

In November there was a 9% month-on-month increase in searches for first-time buyer products, suggesting there is renewed appetite to get on the housing ladder, despite the difficult economic conditions.

Roberts added: “As the property market continues to evolve, it’s clear that first-time buyers are driving significant momentum, seeking support from the Bank of Family to navigate affordability challenges.

“Affordability does remain a persistent concern though, reflected in the notable level of defaults and missed mortgage payments, as well as the continued reliance of first-time buyers on the support of family and friends.”

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