February 15, 2010
Buy-To-Let Landlord Confidence On The Up
More Buy-To-Let landlords are feeling confident about the prospects of their business over the coming months, according to Upad.com.
The website has found that 57% of UK landlords feel more confident about the buy-to-let market for February 2010, compared to January. But survey respondents highlighted lingering issues surrounding arrears and finances. Statements included. Some comments included things like: “Rental is stable but arrears are mounting due to job losses", or “More confident of the lettings market at the lower end".
For the 43 percent feeling less confident about the market, some of the comments included things like: “There is so much competition. Too many properties around and houses lying empty" and “I am wary of the damage high interest rates will do to UK property".
James Davis, founder of Upad says: “For the third consecutive month since we launched the Index, landlords have highlighted their growing confidence in the market. Whilst it’s not a huge majority, I do believe we have turned a corner and that we will continue to see a greater number of new entrants to the sector, as banks begin to open their doors to lending, and renting becomes increasingly popular.”
It seems like there are landlords out there who are happy with their buy-to-let business, others who are not so. Those who are unhappy worry about the availability of mortgage finance, being able to collect enough rent to cover their repayments and worry about the possibility of having an empty property. They worry about getting a lower rate, they worry about the growth prospects of their investment and they worry about the costs involved with running a buy-to-let business.
All those fears can be allayed with the help of a good buy-to-let mortgage broker. They can help you find the right loan that fits with your finances and they can help you find the right insurance so as your property investment is safe whatever the rental conditions. They will do their best to find the cheapest rate and they will help any budding investors keep within a budget and on track, financially.
SOURCE: Upad, 09/02/10
To keep up with the latest News and comment on the UK buy to let market visit the Buy to Let Mortgage Blog
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