buy to let mortgages reach record high
With the banks making better offers and easier funding available to boost the property market there couldn’t be a better time than to purchase an investment property.
The Mail announced at the end of April that Buy-to-let landlords will be main beneficiaries of £80bn Bank of England lending boost as state tries to stimulate property market.
why is now a good time for landlords?
In another article in The Mail ‘How to build a buy to let empire’ it explained why. There are a number of reasons for this. Falling house prices in many parts of the country have prompted existing landlords to snap up more properties.
Banks and building societies, who are worried about lending to ordinary homebuyers, are happy to lend to landlords, who are viewed as less of a risk.
The BBC this month announced that Buy to Let mortgages reached a record high. Buy-to-let lending stood at 13.4% of all outstanding mortgages at the end of March, up from 12.9% a year earlier. Property investors have been taking advantage of low interest rates and have been attracted by high rents.
This is great news for many reasons, it helps the property market in general but also the timing couldn’t be better as so many first time buyers are still going into rented homes whilst saving for a deposit.
This means the rental market is booming, we literally can not keep rental properties on the market, 75% of our instructions during May let within just one day of marketing!!
speak to the experts
Are you confused what the best course of action is? Should you be putting money away towards a pension or buying an investment property? Are you confused as to what kind of property to buy? Are you unsure if it’s the right time?
As we are rental and sales experts and know our area we can advise you on the best areas and properties which will achieve the best return for you.
Pop into our office on Stonegate Road to chat with one of our experienced team to see if we can find the perfect investment property for you!