UK Buy to Let Market Shows no Sign of Slowing
The UK housing market continues to have a superstar on its roster. The Buy to Let market has enabled many landlords to take advantage of numerous attractive deals and their portfolios are getting bigger. There is not only growth of the sector in the capital city, but other parts of the UK as well. Those who see themselves involved in the buy to let market sometime in the future might find some attractive deals prompting them to jump in sooner, compared with later.
Conditions are still favorable for those seeking a stake in the profitable market. Lenders have been, and are currently getting quite creative of the deals which are still on the table. With the entire mortgage market in a state of hyper competitiveness, deals are still available which do not require large deposits or extremely clean credit, although it helps.
The low base rate has also enabled lending institutions to offer a large number of low interest mortgage loans. The base rate maintains its level of 0.5% through the monthly vote of the Bank of England’s Monetary Policy Committee. This rate has not changed in more than two years now, and it is not expected to change until late 2012, if not later.
The rental market is expected to maintain its bullish character for several months. Many homeowners are still turning to rental property instead of staying in their current dwelling. They are doing this for several reasons, but primarily to rent out their own home due to overwhelming demand for rental space.