2
Aug
Bank of China mortgage lending is "an exciting new development"
The Bank of China's decision to offer buy-to-let mortgage lending
to UK consumers is a positive development, according to one
property expert.
New plans to tempt homebuyers and buy-to-let investors with
lower-rate mortgages than many British high street firms suggests
that the bank is demonstrating a new confidence in the country's
housing market.
Keshav Thukaram, managing director of Smartlandlord.co.uk, said
that despite recent media coverage, the private rented market is
"buoyant", although the lack of available property finance has
proved to be a problem.
"This is an exciting new development," he said. "Although the Bank
of China is currently lending on a limited scale, every little
helps."
The Chinese bank's new lending could also pave the way for
additional lenders to enter the sector.
In related news, the Residential Landlords Association claimed
earlier this month that with approximately 500 products on the
market, there are always opportunities for buy-to-let customers to
enter the market.
