Home ownership is falling at a rapid rate in the UK according to the figures released recently by a major high street estate agent. The main reason for these dramatic decreases is due to the ever increasing cost of getting onto the property ladder. Young couples today just simply cannot afford to save the deposit required or indeed afford the mortgage repayments. Over the last 20 years home ownership has been decreasing but nothing like the rate over the last 5 years. The fall in ownership levels is a further boost for the buy-to-let market which continues to increase annually. Landlords will be encouraged by these findings and will further boost there already high confidence levels. Buy-to-let mortgage applications in September and October this year hit all-time highs and November won’t be far behind either. Even with all the tax changes on the horizon landlords are full of optimism for the future and it looks like they have good reason to be. Lenders have recognised these trends and continue to release new or update deals nearly every day. The demand for Limited Company mortgages is also being addressed by the lenders with rates becoming far more attractive to the borrower. On the whole these are indeed very good times for the buy-to-let market even with all the tax changes that are looming. The economy in the UK remains in positive mode and house prices continue to increase annually which all adds up a strong market area for 2016. Can we help? Choosing the correct mortgage can be a daunting task with so many choices. We have fully trained and qualified advisers waiting to assist you so please call to discuss your requirements.
