Buy-to-let still a good mortgage for professionals
Buy-to-let mortgages are still a good option for professionals keen to invest in the housing market, according to an industry expert.
This news follows yesterday's announcement that Paragon, the UK's largest specialist buy-to-let lender, is feeling the effects of the global credit crunch.
However, according to Neil Johnson of the Building Societies Association, there is still money to be made by professional buy-to-letters who know what they're doing.
He said: "There is business to be done though and the lenders that find themselves good quality borrowers will continue to prosper.
"There are still people that want to rent and there are still people unable to buy, so while that remains the same there will always be opportunities out there for buy to let investors."
Experts at Savills have warned that it could be the end of "ultra-low" mortgage rates, which increase the number of consumers turning to rented accommodation, reports the Times.
This could turn out to be a bonus for professionals considering a buy-to-let mortgage foray into the housing market.
This news follows yesterday's announcement that Paragon, the UK's largest specialist buy-to-let lender, is feeling the effects of the global credit crunch.
However, according to Neil Johnson of the Building Societies Association, there is still money to be made by professional buy-to-letters who know what they're doing.
He said: "There is business to be done though and the lenders that find themselves good quality borrowers will continue to prosper.
"There are still people that want to rent and there are still people unable to buy, so while that remains the same there will always be opportunities out there for buy to let investors."
Experts at Savills have warned that it could be the end of "ultra-low" mortgage rates, which increase the number of consumers turning to rented accommodation, reports the Times.
This could turn out to be a bonus for professionals considering a buy-to-let mortgage foray into the housing market.
