It seems that now could be a very good time to join the investors in the buy-to-let market place. A recent survey stated that rents have been on the rise for 10 consecutive months and are predicted to rise a further 3.4% next year. In affluent areas of the country such as London, the South East and Cambridge rents are expected to increase even more as the demand is ever increasing. As an example house prices in London and the South East have increased on average by a staggering 43% since 2011, over the same period rents have increased by 20%. Simple economics should not be overlooked when looking at this trend, housing is in great demand and it is unlikely there will be enough rental properties available to meet that demand. These facts will keep rents on an upward spiral for the foreseeable future and therefore offers huge incentives for current and new landlords. The way forward Current landlords will know only too well that there are problems ahead with all the new tax and legislation changes. This however doesn’t seem to dampen there enthusiasm for business as we are seeing record numbers of buy-to-let applications going through at present. One of our regular clients stated “I can see rents rising next year to compensate for all these changes”. “It’s certainly not all doom and gloom, my accountant and I have discussed the changes and I can now see a positive way forward”. Good news indeed for new and existing landlords and we think the moral of the story is to seek professional advice sooner rather than later. Mortgage help? If you require assistance with your first or next buy-to-let mortgage than call our centre, we are waiting to help.
