Thursday, 29 January 2009
With over half a million private landlords in England alone, the buy-to-let market is big business in the UK.
Buy-to-let itself, first introduced by the Association of Residential Letting Agents(ARLA), was aimed to provide a more flexible lending approach for those who want to invest in property to rent.
Mortgages were designed to encourage private investors and to make lending more affordable to them. But with the housing market crisis taking its toll on landlords, is there still a market for buy-to-let?
Research by ARLA released this month showed how despite the current market conditions, nine out of ten property investors said they wouldn’t sell their property investments if house prices continued to fall.
Ian Potter operations manager for ARLA, says: “We weren’t surprised by that find at all, because the majority of buy-to-let landlords are not in it for the quick fix solution. They are in it for the long term. A lot of them see themselves holding onto the property for a long time, as buy-to-let is seen as a medium to long-term project.
Read more: aboutproperty.co.uk