It was not so long ago that the buy to let property market was being written off. Fear of falling property values, rent arrears and mortgage famine were taking their toll on investor confidence. Now, an article on the citywire website (29th January) is painting a far more encouraging picture. The author is property blogger Linton Chiswick who points to some encouraging signs.
Firstly - two new specialist mortgage offerings for buy to let property investors; perhaps a sign that the credit shortage in this sector may just be easing.
Secondly - a report that rent arrears actually ended up lower in 2009 than the year before.
Thirdly - Capital Homes have published a survey of the market showing that 81% of respondents saw a healthy future for buy to let investors. 71% said that their mortgage repayments, management fees and maintenance charges were being covered by rental income. So much depends on capital values. If they are rising it is easy to feel optimistic!
What are conditions like in your area?
If you have buy to let property then you should be looking to protect your investment with buy to let insurance. Without protecting your property you could leave yourself open to a significant financial loss, such as a fire or explosion happening at the premises can cost thousands of pounds to repair, which is where buying buy to let insurance would help protect you from this possible situation. Call click4quote today for an instant quote over the phone on 03450 89 90 91