As buy-to-let re-mortgaging is reportedly on the increase, as landlords seek to free up equity to make further property purchases, Belvoir Sheffield, the leading letting agent in Sheffield, investigates..
As the percentage of people looking to re-mortgage has risen to its highest level so far this year, Rick Flay, director at Belvoir, who offer a wide range of property to rent in Sheffield, is finding that in Sheffield in particular, investors are looking to make the most of the lucrative market.
Rick said: “Not only are long term investors and those with experience looking to expand upon their current portfolios, some new investors are also coming to the market and seeking advice from us here at Belvoir Sheffield.”
A report issued by Haart earlier this week also echoed this view, finding that Buy-to-let now accounts for almost one in five of the 200 weekly mortgage applications currently processed by them.
Rick, whose letting agency on Campo Lane in Sheffield, specialises in providing flats to let in Sheffield, added: “The market is finding an increase in the number of homeowners who are happy to use the equity in their assets to make new purchases. For those who can get finance or free up some cash, the lettings market is extremely buoyant.
Research from Belvoir Sheffield suggests that as the prospect of letting out a property becomes even more financially rewarding, one in three home owners are now considering this as an option, but anyone new to residential lettings to be aware of the many pitfalls, including strict regulatory requirements, insurance considerations and tenant reference and checking procedures. Call Belvoir Sheffield before you buy and get independent advice!!
Belvoir Lettings Agency Sheffield is the One Stop Specialists for Lettings including Property Management, Tenant Find, Investment and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs and Investment Property Insurances and Mortgages.
