This week I was delighted to read a new report from the Council of Mortgage Lenders which claims that there are now on average 1.3 million Buy-To-Let mortgages outstanding, worth around £152 billion.
This new report is a great indication that there is an increasing appetite for Buy-To-Let mortgages, with many of the leading lenders now starting to release brand new products in order to cope with demand.
I was surprised to hear that Buy-To-Let lending was in fact 22 per-cent higher in 2010 than in 2009, despite media reports that the market was suffering a downturn.
For the Buy-To Let landlord in Sheffield, the future is now looking extremely bright, especially now that first-time buyers in particular are in very short supply. This teamed with increased rental yields and a decrease in void periods, makes it an extremely buoyant time for landlords who are already in the buy-to-let sector.
More Buy-To-Let investors will also aid growth in other areas of the economy such as building maintenance and home furnishings, which is why this new report is so encouraging.
Here at Belvoir Lettings Agency Sheffield we offer FREE advice to any landlord looking to secure a Buy-To-Let mortgage, which is proving to be an invaluable tool for the first time or accidental landlord.
We invite landlords to make use of our Buy-To-Let mortgage search tool, which can be found at www.belvoirmortgages.com
