As the rental market continues to thrive, with the demand for rented accommodation remaining exceptionally high, the number of people considering investing in a property to rent out has increased, according to Belvoir Sheffield, leading letting agent in Sheffield
The marked increase has seen both new investors and seasoned investors looking to purchase more properties to add to their existing portfolios as the stock market remain volatile and the return on savings remains poor.
Rick Flay, Director at Belvoir Sheffield, who offer a wide range of property to rent in Sheffield, said:“The rental property market offers a complete contrast to other investment opportunities at the present time. We are finding that those who dabbled in the stock markets at one time, are realising the benefits of a rental property investment as an alternative. Rents are strong, yields aregood and a rental property is now a solid investment.”
Buy to let lending has also improved in recent months, with many lenders starting to make lending morereadily available.
Last week, Lea Karasavvas director of Prolific Mortgage Finance said: “Borrowing 85 per-cent (of a property’s value) was easy pre-credit crunch, and the fees on those loans were a lot lower. Now charges of £1,999 are not uncommon and borrowers will find little choice above 75 per-cent loan to value (LTV).”
Rick whose lettings agency specialises in providing flats to rent in Sheffield added: “Buy to let lending criteria has tightened in recent months, but mortgages are slowly becoming more available.We are also starting to see more competition in the market for lending products, which can only be a good thing.”
Whilst the lettings market is looking very positive for landlords, I would still adviseanyone taking the plunge for the very first time to seek the advice of aprofessional independent lettings agent such as Belvoir Sheffield. Any buy to let purchase should be seen as a long time investment and one which should be managed with caution.”
Belvoir Lettings Agency in 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.
