Top 10 Lenders For Buy To Let
Who Are The Top 10 Lenders For Buy To Let?
Unfortunately, there is no top 10 lenders for buy to let list out there. Mortgage lenders are not scored like Premiership football teams, there are no champions and there are no relegations. But there are Best Buy Tables, published all day, every day to give you the lowdown on the cheapest buy to let mortgage available at any time. These do not pit the lenders against each other - they only pit products' rates. And these change several times a day - mortgages come and go so quickly by the time a great, cheap deal has been announced by a lender, it has been sold. So the top 10 lenders for buy to let are not going to be found on a Best Buy Table.
And of course, there is the Internet. Go online and you will find endless top 10 lenders for buy to let lists, each with different lenders and different criteria. These can be useful - many are compiled by third parties or even from customer reviews. They can tell you the lenders with the best customer services, the lenders with the most buy to let products or even the lenders with the cheapest deals ever. But these top 10 lenders for buy to let lists can only be used as guides. It's always good to go online and do some homework, but never take the Internet as the gospel truth.
Although there is no official list for top 10 lenders for buy to let, there is an official power list. The Council of Mortgage Lenders produces a list of the biggest buy to let mortgage lenders of the quarter, decided by how much business each lender does. So this is a top 10 lenders for buy to let of sorts, but it does not tell the full story. The CML's top 10 lenders for buy to let are going to be the lenders with the most money - Halifax, Nationwide, Northern Rock - they can afford to sell lots of buy to let mortgages, but this does not detail what sort of buy to let mortgages they sold.
Does this mean there is no such thing as a top 10 lenders for buy to let? Basically yes, there is no definitive list. Each lender has its merits and it's flaws, and each lender comes out with great buy to let products and dubious buy to let products. The key to buy to let success is striking your own balance and finding a lender who will work for you. Stop trying to find the top 10 lenders for buy to let and start looking for the top lender for buy to let and for you.
