Rental and buy-to-let still booming
There is predicted to be an increase in property investors planning on buying more residential property, and with this in mind we expect that the property investment industry will continue to flourish in 2013.
Some 8.5 million people currently rent in the UK and that number is set to increase with the average deposit to purchase a property at an all time high. This is particularly good news for landlords who will have tenants staying in their properties for long periods and therefore they will be maximising their portfolio’s potential.
This is also welcome news to the specialist lending industry, as with more and more people looking to rent rather than buy, there will be greater interest in products such as bridging finance and buy-to-let.
Bridging finance and buy-to-let loans from specialist lenders are much more flexible and quicker than those available from high street banks, with many more types of property, property conditions, property values, status, and loan amounts considered.
To meet the continued increase in demand, brokers should make sure they are aware of this predicted trend, and more importantly have access to the right selection of products for their customers to make the best investment decisions.
If brokers are prepared for this trend, the industry ultimately will benefit from increased business and continue to thrive.
Amidst expert views that housing stock turnover and gross lending figures will remain low, with only perhaps a slight rise, inevitably there will many investment opportunitiesthis year.
Specialist lenders and brokers alike can be confident in the knowledge that the rental market and buy-to-let is still booming.
Article courtesy of Mortgage Strategy
RentPro property management software for letting agents and landlords.