Buy-to-let market 'buoyant'
News Category: Industry News
Published: 12-Mar-2008
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Although the effects of the credit crunch have hit confidence in the property market, the buy-to-let market is still buoyant.
That is according to Christopher Tanner, managing director of Blevins Franks Mortgage Services, who said that with careful research, investing in property can still be a good idea.
"I think if people do their homework and buy the right property, don't overpay and get the right advice regarding their finances - the main point is just don't overextend yourself," he said.
Mr Tanner explained this means ensuring the property in question is suitable for its purpose and opting for an affordable loan.
"Lenders are less worried about buy-to-let than anything else," he said. "So just be cautious, take the right planning and you should be ok."
According to figures from the Council of Mortgage Lenders, buy-to-let lending totalled £24.1 billion in the second half of 2007, compared to £20.8 billion the year before.
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