Lending worth £880 million (an increase of 200% over £290 million in quarter 1 2002) in the first three months of this year represents a record for Mortgage Express, which now has a substantial share of the market.
Commenting on the figures, managing director Tim Dawson said: “We've seen a significant increase in buy-to-let business, and I believe it's down to a couple of reasons. First, the stock markets are still shaky and can't be guaranteed to give a reliable return, whereas people investing in property - provided they're in it for the long term - have seen regular income from their rented properties, plus capital growth in most areas. Second, because of our experience and expertise in this kind of lending, we've been able to develop an award-winning products which gives investors what they want - simple criteria, flexibility and now, of course, the ability to make tax savings through buy-to-let for limited companies.”
