At the height of the British housing boom buy to let represented twelve percent of the buoyed British mortgage market. Money was pouring into real estate and the property sector was flying due in part to the amount of people interested in buy to let. We all know that what happens next is not pretty, as the global recession hit and the sector shrunk to a fraction of it size.
The good news is that a strong UK rental market and just the merest whiff of a recovery in mortgage backed securities are beginning to see a growth in property once again.
The recovery sins are modest but they are there.
The CEO of Nationwide, owner of The Mortgage Works said last month, “We think there is a strong market and demand has increased.”
Most people seem to think that even as the property sector shows signs of growth it is unlikely to be as attractive to amateurs this time as it was last time round. According to the Nationwide most of the renewed interest it is seeing is from existing players in the BTL market.
But there are clear signs of life in the property sector in general and the buy to let market in particular.
Some would be moved to say that with a housing crisis looming this comes not a moment too soon.
