If you are a regular reader of this blog, you will be aware that I have passed comment recently on the growth in the rental market in the UK. Well it seems that the National Landlords Association (NLA) agrees with me as they have just issued a press release highlighting the increase in lenders offering Buy-to-Let mortgage products in the last few weeks.
In the past, when the property market was at its height, many potential investors were seduced by the promise of easy money in the form of rental income. Millions jumped into the buy to let market and built up large portfolios of rental properties, but unfortunately for some, those investment portfolios proved to be unsustainable.
As a landlord, it is important to find the right properties. If your properties are unable to attract regular tenants, they will end up costing you money, which is hardly the point of being a landlord! So before you take a trip down the high street and let yourself be sucked in by the promise of low rates from buy to Let lenders, shop around and make sure you are being sold the right product for your needs.
The NLA recently revealed that 71% of landlords believe that the market would benefit from more lenders and greater competition. Naturally I agree with this sentiment. However, with the NLA also predicting a continuing increase in tenant demand over the coming year, it is likely that the big lenders will continue to bring out new and ever more competitive buy to let products.
