Buy-to-let ‘a long-term investment’

Letting agents may notice an increase in the number of landlords looking to expand their portfolios in the forthcoming months.

Operations manager at the Association of Residential Letting Agents Ian Potter explained figures suggest more and more investors are keen to purchase new properties.

However, he noted there is “not the property for them to buy”, due to a shortage of housing stock.

According to the expert, getting access to a mortgage should not prove too problematical for those who are only looking for a 75 per cent loan-to-value product.

Although, Mr Potter reminded individuals that purchasing a property is a “long-term investment” and not a way of making “a quick buck”.

“A landlord coming into it today should be looking at it with a view to a ten to 15-year term,” he remarked.

It was recently forecast by Savills that residential rental growth will increase by 20.5 per cent over the next five years.

Source: rman.co.uk