12
Mar
Buy-to-let 'healthy despite crunch'
The buy-to-let mortgage market remains in good health despite the
impact of the recent credit crunch, an analyst at Blevins Franks
Mortgage Services has said.
While the overall feeling may be one of "doom and gloom" this
sector is actually performing very well, claimed managing director
at the company Christopher Tanner.
But he suggested that if investors want to see success in the
sector then they should thoroughly research it and get advice so
they do not put a foot wrong.
Newcomers to the stage should also obtain a "suitable" property
that is within their financial budget.
"Make sure ... you're taking out loans you can afford to repay;
you're not extending yourself where you've got no money in the bank
when you have a void period, or a tenant doesn't pay," he
commented.
He added that with the correct level of caution buy-to-let
investors should be able to see the benefits of the risks they
take.
The amount of loans given to those in the buy-to-let sector stood
at 179,100 in the last half of 2007, the Council of Mortgage
Lenders stated. 