x
By using this website, you agree to our use of cookies to enhance your experience.
STAY CONNECTED!
  
newsletter-button

Buy-to-let 'alive and kicking'

10 October 2008

Property investors looking to expand their portfolios should not be put off by nationalisation of mortgage lenders and the downturn in the sales market, it has been claimed.

According to the Council of Mortgage Lenders (CML), the rental market is growing and underpins the buy-to-let sector.

The CML said that the nationalisation of Bradford & Bingley led to some lenders increasing their buy-to-let rates, but added the mainstream mortgage market saw similar increases.

"The reality is that pockets of difficulty will arise for particular types of property – some newly built flats, for example – to which amateur landlords may have been attracted. But the scale of the problems should not be overstated," the group claimed.

In related news, the number of people investing in overseas property is expect to drop in the coming year.

Mark Bishop, columnist for A Place in the Sun, said the market was down between 35 and 40 per cent when compared with last year.

Comments

  • icon

    What else do you expect the CML to say. It has a huge vested interest in pumping the market. Buying now would be like trying to catch a falling knife when looking at capital value and potentially as recession arrives difficulty in finding tenants who will pay.

    • 10 October 2008 10:32 AM
Breaking News
MovePal MovePal MovePal