People who are investing in a buy to let mortgage ought to be ready for 10 years of growth, so new figures from the Alliance and Leicester show.
As we more so wish to live a carefree life, numbers renting are increasing, improving opportunities for buy to let mortgages .
This market is now set to expand 41% by 2016, the Alliance and Leicester forecasts.
Rental property demand has grown steadily recently and returns on buy to let have increased. Such growth is likely to carry on, as numbers of renters increase and buy to let becomes more attractive to existing as well as potential landlords.
There are seemingly three key drivers to growth in rental accommodation: an increase in the rental market, namely amongst single people and students; younger people who wish to rent as it is more common and more acceptable now than before ; and more use of rented property by those seeking flexibility and mobility.
Buy to let mortgages have existed for 10 years, yet there are 767,600 loans outstanding, that is, 8% plus of all UK mortgages
Nonetheless, buy to let remains an essential part of the entire housing market.
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Buy to Let Mortgages Increase Rapidly
Wed, 07 Mar 2007
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