Times are hard for first time buyers at present which has strengthened the buy-to-let market even more. Young couples and first time buyers looking to join the property ladder could be in for a very long wait. Figures just released this week are showing that a combined salary of £41500 is required on average to enter the property market. So what is required these days to buy a new property is almost twice the UK average wage of £22000 per annum and as most people will know that is very difficult. As a result of all this many couples are turning to the rental market for housing and this is providing a boost in demand for landlords and buy-to-let investors. This in turn is creating a shortage of suitable properties coming onto the market especially in the London and South East. Thinking of entering the Buy-to-Let market? More and more investors are considering entering this market for various reasons. So what can a buy-to-let investment offer you? Interest only mortgages Good potential returns on capital invested Tax efficiency Attractive mortgage interest rates Potentially better returns than on offer at high street banks Above are just some of the reasons why people are considering a buy-to-let investment. If you are thinking of entering this market you should always seek advice on the types of mortgages available that best suit your needs. You will generally need a deposit of at least 25% this varies from lender to lender but the bigger the deposit the better the deal. Mortgage assistance? If you are contemplating entering this market or require assistance with a re-mortgage please do contact us. We have experienced advisers who will find the correct deal for you.
