Strong summer market set to help drive buy-to-let recovery
By The Beresfords Marketing Team - 04 August 2011
Beresfords are reporting increased interest from buy-to-let investors who are keen to take advantage of the strong rental demand, rapidly increasing rents and improved access to mortgage finance.
The number of investors looking for buy-to-let properties in June was up by 35% from April and 28% from May.
Paragon Mortgages and The Paragron Group of Companies, specialist providers of buy-to-let mortgages, recently announced that it has completed £99 million of buy-to-let business in the last nine months.
John Lineham, Director of Beresfords Mortgage Services, comments: “Many of the lenders that scaled back or retreated from buy-to-let lending in 2008 are now returning and the increased competition means that rates available to investors are becoming much more attractive, starting from around 2.49% for a buy-to-let mortgage.”
Steven Bond, Managing Director of Beresfords Lettings Division, comments: “In recent years there has been a huge surge in the number of tenants looking to rent property and as a result many landlords are securing lucrative monthly rents. There are no signs of things slowing down especially as many young people cannot afford to buy their own property and opt to rent instead.”
“Recent media coverage regarding the performance of people’s pensions indicate that many face the real possibility of having to work much late in life. Therefore, owning buy-to-let properties can often prove more lucrative than other mainstream forms of investment.”
“Rental properties can generate a regular monthly income which should increase in value over the long-term. Furthermore they are very flexible and the landlord has complete control over their asset and can decide whether to retain or sell the property at any time.”
Beresfords act for all types of landlords, from single property investors to large scale portfolio landlords, and can deal with the entire process on a client’s behalf. This can include sourcing a suitable property to purchase, assisting with negotiations, marketing it for rent, securing professional tenants, undertaking extensive referencing and credit checks as well as managing a property throughout the tenancy term.
Should you wish to explore the possibility of buy to let and would like to arrange a private consultation with one of our specialist investment team email email@example.com. These meetings are completely free of charge and without obligation.