'Still money to be made' on buy-to-let market

News Category: Management

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The buy to let sector will still offer significant money-making opportunities for landlords in 2008, according to a property expert.

Despite recent gloomy predictions surrounding the market, those who are experienced in residential lettings will still be able to make a profit due to the continuing demand of rental property, according to Neil Johnson, PR policy manager at the Building Societies Association.

While lenders will be less willing to offer up funds to a new buy-to-let landlord, good quality residential letting experts will still be able to raise finance, he claimed.

Mr Johnson said: "For professional buy to letters, who know what they are doing, there is still money to be made."

"There are still people that want to rent and there are still people unable to buy, so while that remains the same there will always be opportunities out there for buy to let investors," he added.

A recent Rics study indicated that would-be buy-to-let investors now need to lay down a deposit of £65,000 to secure a property, compared to just £10,100 back in 2002.

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