Released on: June 3, 2008, 8:00 am

Press Release Author: Mortgages for Business

Industry:

Press Release Summary: 15% buy-to-let mortgage deposits now become the exception

Press Release Body: Mortgages for Business, the leading specialist buy to let mortgage broker, is
reporting that lenders are increasingly requiring buy to let investors to put down
20-30% deposits - a further sign that they are targeting professional landlords who
are continuing to remain active in the marketplace.

In the past three years the standard practice was for buy-to-let lenders to design
mortgages at 85% loan to value, requiring a 15% deposit which has encouraged many
smaller portfolio investors into the market. However the reaction to the credit
crunch has meant higher perceived risk and a more cautious approach requiring larger
deposits.

Jonathan Moore, Head of Marketing at Mortgages for Business comments: "Most lenders
are now looking for deposits of between 20% and 30% depending on the property and /
or tenant type".

Moore continues: "There are still 15% deposit requirement mortgages available,
including from Mortgage Express the UK's largest buy to let lender, however they
are now in the minority which is surprising news to many investors when they come to
make a purchase or remortgage".

"We are also starting to see differentiated loan to value pricing, with those
investors with a smaller deposit having to choose a mortgage with a more expensive
headline rate or larger arrangement fee".

The change in deposit requirements further demonstrates the shift that lenders are
targeting products at professional landlords who have larger portfolios and continue
to remain active in the marketplace. Increasingly these landlords are able to exert
pressure on purchase prices and continue to make purchases.

For more information call Mortgages for Business on 0845 345 6788 or visit
www.mortgagesforbusiness.co.uk

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Notes:
Mortgages for Business are independent experts in buy to let and commercial
mortgages managing single and multi-let property portfolios for thousands of UK
investors. Its brokers have access to a large portfolio of fixed and variable
interest rate mortgages from a panel of over 30 lenders and offer truly independent
advice that is appropriate to investors.

Web Site: http://www.mortgagesforbusiness.co.uk

Contact Details: Jonathan Moore, Head of Marketing
Mortgages for Business
Tel: 01732 471600 / 07810 717421

Matt Baldwin, Coast Communications
Tel: 01233 503200 / 07930 439739