May 05, 2011
Investment opportunities in the UK buy-to-let market are on the up and up as demand for rented property continues to grow rapidly, new research has revealed.
A study carried out by buy-to-let mortgage provider Paragon Mortgages found that the buy-to-let market is recovering from the sharp downturn experienced in 2009, when it plummeted to its lowest level for eight years.
Now in 2011, the private rented sector is the only form of housing tenure that is growing, as continued mortgage restrictions in the buyers market have led to renting proving to be both a necessary and flexible option for many.
"Historically the rental sector was largely ignored by many mortgage and financial advisers. Today, many typical tenants may well be in full-time employment, in their thirties and have started a family,” said Ben Thompson, managing director Mortgage Club for Legal amp; General Network.
“Some tenants also want the flexibility that renting offers and the quality of rental property now available is much better than it once was, thanks to the growing number of private landlords.”
Homeowners looking to harness the current trend in buy-to-let popularity have been encouraged to seek advice before approaching the market. Making sure your property meets all government housing standards before offering it to potential tenants will ensure you do not fall foul of legal pitfalls further down the line.
