Belvoir Sheffield has told Yorkshire based landlords that now is the time to invest, after new figures showed that by the end of March 2013, buy-to-let lending accounted for 13.4 per-cent of total outstanding mortgage lending in the UK, an increase of 0.4 per-cent on the previous quarter.
The latest CML figures demonstrated that there are now around 1.46 million buy-to-let mortgages in the UK which accounts for around 13% of the total estimated stock of 11.26 million mortgages.
Rick Flay, Director at Belvoir Sheffield, who offer a wide range of property to rent in Sheffield, said: “The latest CML figures indicated that a gross mortgage lending of £4.2 billion across 33,500 mortgages was advanced to buy to let landlords in the first quarter of 2013. This shows that lending is becoming more obtainable than it has been in recent months, which is indeed very encouraging for the residential landlord.”
According to Brian Murphy, head of lending at Mortgage Advice Bureau (MAB), poor savings rates have sparked interest in the buy to let market, he was reported as saying: “The increase in demand for privately rented property reflects the growing appeal of flexible living arrangements far from being a second best option. Renting can often compliment the lifestyle of many people with changeable personal circumstances, especially those with roaming work locations and seasonal commitments.”
Rick, whose letting agency on Campo Lane in Sheffield, specialises in providing flats to let Sheffield, added: “Here at Belvoir Sheffield we are advising both seasoned and first time landlords who are concerned about obtaining a new buy to let mortgage to get in touch with us. We offer an ‘all of market’ solution where our brokers can look at the best deals available across the UK, because we are not tied into any lender. There is no cost to a landlord for this search service either.”
Belvoir Lettings Agency Sheffield is the One Stop Specialists for Lettings including Property Management and Tenant Find, Investment and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs and Investment Property Insurances and Mortgages.
Belvoir Sheffield was the winner of the Belvoir Franchise of the Year Award for 2013
For more information, please call 08452 60 40 90. Alternatively, please email us at sheffield@belvoirlettings.com
