Thinking of becoming a landlord? Now is the time
Some 49 per cent of UK-based landlords believe that now is a good time to invest in new property.
In comparison, just 19 per cent of those questioned in a recent survey are looking to reduce their portfolios.
In comparison, just 19 per cent of those questioned in a recent survey are looking to reduce their portfolios.
Demand for buy-to-let property is forecast to grow in the coming 12 months, with figures showing that 185,600 fewer first-time buyers entered the property in the last year compared to the level before the downturn.
Indeed, in the past three months, 52 per cent of landlords have reported a rise in tenant demand and 68 per cent expect demand to grow further in the next twelve months.
One industry insider, said: "Optimism among landlords is not only buoyant, but increasing.
"Soaring rents and climbing demand from frustrated first-time buyers are not only making buy-to-let an attractive proposition for new property investors - but are encouraging existing landlords to grow their holdings before property prices increase once more."
Good deals are available for those with enough money to invest in a buy to let arrangement. The fact that the base rate remains extremely low and lenders are offering attractive deals makes it an opportune time to look into a buy to let property.
A buy to let property is considered by many to be an excellent investment for those who are able to afford it. For many who are in the process of a remortgage that possibly could not afford a buy to let before, now is the time to look into it. The extra cash which will be freed up through the remortgage process is many times enough to afford the deposit on a buy to let property.
The advantage one has now compared with other economic times, for a buy to let purchase, is threefold. First, the interest rate is at a historically low level, and will remain there for an estimated several more months. Second, lenders are offering very competitive deals for buy to let arrangements as well as other types of remortgage loans. Third, property prices have been in free fall for several months now and look as though they will continue to be even more affordable than they are now.
The advantage one has now compared with other economic times, for a buy to let purchase, is threefold. First, the interest rate is at a historically low level, and will remain there for an estimated several more months. Second, lenders are offering very competitive deals for buy to let arrangements as well as other types of remortgage loans. Third, property prices have been in free fall for several months now and look as though they will continue to be even more affordable than they are now.
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