12 Mar

Buy-to-let 'healthy despite crunch'

Buy-to-let 'healthy despite crunch'

The buy-to-let mortgage market remains in good health despite the impact of the recent credit crunch, an analyst at Blevins Franks Mortgage Services has said.

While the overall feeling may be one of "doom and gloom" this sector is actually performing very well, claimed managing director at the company Christopher Tanner.

But he suggested that if investors want to see success in the sector then they should thoroughly research it and get advice so they do not put a foot wrong.

Newcomers to the stage should also obtain a "suitable" property that is within their financial budget.

"Make sure ... you're taking out loans you can afford to repay; you're not extending yourself where you've got no money in the bank when you have a void period, or a tenant doesn't pay," he commented.

He added that with the correct level of caution buy-to-let investors should be able to see the benefits of the risks they take.

The amount of loans given to those in the buy-to-let sector stood at 179,100 in the last half of 2007, the Council of Mortgage Lenders stated. ADNFCR-1222-ID-18506489-ADNFCR

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