Buy-to-Let Up To The Challenge
There is no doubt that the buy-to-let market is about to face some challenging years. If you were to believe everything you read in the press about investment property you might think the entire property market was about to collapse under the weight of buy-to-let repossessions. Thousands of would be property millionaires have collectively lost millions of pounds due to poor investment decisions in recent years but many more investors have become substantially wealthy.
The buy-to-let market is not all doom and gloom, despite what certain elements of the media will have you believe. It is true that there is an oversupply of inner city apartments in many urban areas around the country. The lack of tenants to fill the apartments, many of which were bought off plan by first time investors, has pushed rent prices down and forced many buy-to-letters to succumb to repossession, sell up, or make up the cash shortfall out of their own funds.
However, this unfortunate situation is not prevalent throughout the entire country. Outside of the major urban areas which are awash with vacant apartments, the buy-to-let industry is still strong. This is evidenced by the fact that lenders are willing to approve buy-to-let mortgages for properties located in areas that are not city centres. Although the total number of buy-to-let mortgages has been slashed in recent months, there are still plenty of products available for the millions of high quality rental properties scattered throughout the UK.
If this is as bad as the crisis will get
