The buy-to-let sector is going from strength to strength as more people across the UK realise the numerous advantages of owning an investment property.
New results from the Council of Mortgage Lenders (CML) show gross mortgage lending reached £18.6 billion in August – a figure that is 13 per cent higher than in the same month last year.
Indeed, this total is higher than any amount of gross mortgage lending in any August since 2008, underlining the return to strength of the market.
And CML chief economist Bob Pannell is in no doubt as to what aspects of the property market are contributing most to the sharp rise in lending.
“The narrative of recovering house purchase and buy-to-let activity continued through August,” he stated, adding a warning that it is important to consider the summer can accentuate positive trends as it is a popular time for property purchases.
Regardless of this, it seems more Britons are turning to buy-to-let properties as their investment vehicle of choice, and if you have the resources required to join this trend it is well worth doing so.
By securing a property of a type and in a location that is subject to strong demand, you can be confident that your accommodation will be let to a quality tenant and you will enjoy a healthy return both in the short and long term.
A yield of at least five per cent is entirely realistic to the majority of our landlords, and when you compare this with the interest rates offered by banks and building societies on their savings accounts right now, you will see why buy-to-let investments are so popular.
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