Three per cent of homeowners have revealed plans to buy another investment property by 2010 – doubling the number of British landlords – with the sector already accounting for 11 per cent of all mortgage lending. The Council of Mortgage Lenders has reported that the buy-to-let sector turnover amounted to £38.4 billion of all mortgages processed in 2006.
Tanveer Karim, commercial director of said The Buy to Let Business said: “Despite the tax relief benefits, many people today are exchanging their traditional pension for property. With pensions not offering their previous returns and the real cost of living accelerating at an alarming rate, property investment continues to grow in popularity as an alternative investment vehicle.”
Ying Tan, managing director of The Buy to Let Business, added: “Investors are seeing the benefits of investing in bricks and mortar and good returns in the buy-to-let market continue to be achieved by the astute investor, as long as you manage your risks, and conduct thorough due diligence. Our only word of warning would be to keep an eye on the ever changing legislation which can catch out the uninitiated”.
Established after recognising this opportunity in the marketplace, The Buy to Let Business believe they have achieved the correct balance – understanding the necessity for the optimum service levels and offering and speed of mortgage offer.
