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Buy-to-let market `to benefit from slowing house prices`

01/10/2007

A slowing of the housing market may revive the buy-to-let sector, an industry expert has claimed.

Those wishing to let their properties out may be interested to know that as housing prices slow, due to rising interest rates and uncertain financial markets, those who have taken out buy-to-let mortgages may benefit financially, according to a spokesperson for the Association of Residential Lettings Agents (ARLA).

Malcolm Harrison said that the demand within the rental sector is already high, as many first-time buyers are priced out of the market. However, he added that this is set to increase if housing prices level out as buy-to-let mortgages have a "much better" credit record than normal mortgages.

Mr Harrison continued: "Most buy-to-let investors, new or experienced, actually go to mortgage lenders with a well-thought out proposition and that proposition generally includes quite a high deposit and conservative expectations of the rental value."

ARLA is the professional and regulatory body for letting agents in the UK.

Many debts unaffected by base rate cut 09/01/2009 - Yesterday, many borrowers welcomed the Bank of England’s base rate 1.5% base rate – an historic low 08/01/2009 - Today’s base rate cut by the Bank of England’s Monetary Gas price cuts expected 07/01/2009 - Energy company Scottish Power has announced the launch of a Personal debt about £1.5 trillion 07/01/2009 - The UK’s personal debt stands at around £1.5 trillion, according