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Demand for Rental Properties Getting Stronger
The recent turbulence in the housing and financial markets has slowed purchases by home movers and first time buyers, but the result is a significant increase in rental demand.
According to figures released this week by Your Move, the UK's second largest letting agent, rental demand has increased by 50% over the past year.
Tony Rice of Bedford-based specialist mortgage brokers TMP Mortgage Zone said: "Falling house prices and the reluctance of some people to move unless they really have to means that landlords with existing buy-to-let properties are experiencing unprecedented demand. This also offers a route out for people whose homes are stuck on the market as they could convert their existing mortgage to a let-to-buy mortgage, letting them move house and benefit from rental yields on their existing property."
As a specialist mortgage broker providing a whole of market service, TMP Mortgage Zone can provide landlords with access to hundreds of buy-to-let mortgages, as well as let-to-buy mortgages for existing homeowners who want to move house.
[ 24-10-2008 ]
