Buy-to-let market 'still buoyant'

buy-to-let in the UK remains buoyant, despite cooling confidence and negative economic forecasts, according to one industry insider.

Managing director of Blevins Franks Mortgage Services Christopher Tanner said that "the buy-to-let market is actually very buoyant" and money can be made if people invest carefully.

"I think if people do their homework and buy the right property, don't overpay and get the right advice regarding their finances - the main point is just don't overextend yourself," he said.

Recent statistics from the Council of Mortgage Lenders revealed that in the second half of 2007, buy-to-let lending totalled £24.1 billion, compared to the £20.8 billion recorded in the same period of the previous year.

"Lenders are less worried about buy-to-let than anything else," said Mr Tanner, although he added that borrowers with bad credit histories may struggle to find loans.

He also claimed that providing investors choose the right property and loan and don't leave themselves with no where to turn financially if something goes wrong, buy-to-let is still an option.

"So just be cautious, take the right planning, and you should be ok," he said.

Published 12th March, 2008

© 2008 Estates IT Limited

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