It seems that pretty much everywhere you look someone is purchasing a buy to let property. As an investment, having a house or flat that you rent out still seems to be a pretty safe bet in these uncertain times. Share and oil prices fluctuate and the other commodities markets are changing rapidly as well. Bricks and mortar remain solid, after all, everyone needs somewhere to live. Why is there so much rental property stock available?
There are several key reasons as to why we have so many. In the first instance the prices of domestic houses have risen so sharply that properties have become completely unaffordable for the following generations. This is why we now have the need for more lettings agents and inventory clerks using Best home inspection software as well.
The generation that purchased homes in the 1970’s, 80’s and early 90’s were able to get further advances on their properties allowing them to get a deposit for a Buy to let. Lending was much easier (income verification did not even require a payslip) so most sums were agreed. The second factor is Right to Buy. Here council tenants could buy their attractive properties for a third of their real value. They then borrowed on them, as above.« Back