The buy to let mini boom

Published: 14/08/2013

Confidence surrounding the buy to let market is at a high; 95% of brokers believing now is a good time to invest in buy to let. Latest figures have revealed this confidence to be well founded as lenders advanced 40,000 mortgages, worth £5.1 billion, in Q2 2013.

According to the Council of Mortgage Lenders (CML), buy to let activity is now at its highest level in nearly five years, accounting for 13.3% of UK lending.

Both buy to let conveyancing and buy to let remortgaging have seen increases in volume and value; purchasing of buy to let property has risen by 15% in volume and 19% in value while remortgaging has seen a leap of 24% and 29% for volume and value respectively.

Lynne McCaffrey is the Head of Property at Goldsmith Williams Solicitors:

“Despite first time buyer activity reaching its highest levels since 2007, it is encouraging to see the buy to let market continuing to gather momentum.

“We can help buy to let investors and landlords looking to expand their portfolio, remortgage an existing property or even take their first plunge into the market. But as well as assisting with their transaction, we can also provide continued help and support throughout their time as a landlord through our two dedicated services, GW LET and Landlord Hero.

“GW LET, which stands for Landlord Empowerment Team, offers landlords legal advice on a number of issues from rent arrears to tenancy deposit disputes, squatters to enfranchisement while Landlord Herois a completely free system which allows landlords to manage their property portfolio as well as create free assured shorthold tenancy agreements and set reminders and notifications for key dates.”

Content correct at time of publication