Everest industry news
Buy-to-let to remain 'strong' in 2008
30 April 2008
The Business Mortgage Company is tipping the rental market to remain strong this year, despite the limited availability of buy-to-let mortgages.A spokesperson for the firm insisted "the key factors driving the buy-to-let market are still strong" and landlords can expect to continue reaping healthy rental yields.
Those looking to expand their portfolios may find they need to stump up larger deposits and provide stronger income guarantees, but existing lets should remain very profitable.
"There are rising levels of tenant demand as people wait to see what happens in the housing market before purchasing," noted the Business Mortgage Company expert.
Landlords with capital to play with can expect to find "some great opportunities" to "snap up some bargains", the spokesperson continued.
Ultimately, despite the withdrawal of most higher loan-to-value mortgages for the time being, she predicted that "the market should continue to perform well during 2008".
In October this year, new legislation comes into force requiring landlords to provide energy performance details of advertised rental properties to prospective tenants.
Before this law takes force, homeowners with rental interests are advised to take steps to improve fuel efficiency, with simple improvements such as added insulation and double glazing.
