The Times - Make a start in the £28bn buy-to-let rental market
Britain is seeing a boom in part-time landlords, where people are letting properties on the side to boost their main income, according to new research from insurer LV=. Property is an attractive bet since returns from buy-to-let property can generate a decent income at a time when interest rates remain ultra low and the stock market is volatile.
Aaron Strutt at Trinity Financial told The Times: “Property prices have increased but rental returns haven’t kept pace in many cases. As the mortgage lenders use the rent generated by the property to work out how much money they will provide for a mortgage, this causes a problem. Landlords often need to put more money into the purchase to get the deal through as their bank or building society won’t lend them enough.
“If the rent is tight on the property and you are struggling to borrow enough property to buy it, there are a couple of lenders willing to help. Clydesdale Bank, Precise Mortgages and Aldermore have some of the more generous rental calculations.”
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