Buy to let is back
According to a report by the Council of Mortgage Lenders an increase of 17% in the number of buy to let mortgages was reported and a 20% increase in the total value of the loans. Anthony Kempster of The Letting People comments “this is welcome news as in the Leamington Spa area we are still experiencing a shortage of good quality rental housing stock for prospective tenants”
If the trend is repeated here in Leamington Spa, we should expect the frantic searches of prospective tenants particularly before the start of the university term being eased.
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We have a buy-to-let property and were concerned when it was valued for less rent than we had anticipated. We were therefore sceptical when The Letting People valued it higher than other agents, but were then delighted when their commitment proved that they could let it quickly at the target rental. We have returned to The Letting People several times in the past 5 years, and can certainly recommend their professional service.
Mr and Mrs V, landlords, Warwick