We all know that demand has massively outstripped supply in the UK property market and this has fuelled the increase in house prices. Rightmove said that prices had been stoked by the biggest mismatch between buyer demand and supply ever recorded, with more than double the amount of buyers as sellers currently active in the market.
This combined with the rush to fix existing mortgages due to borrowers’ fear of further rate rises has caused several lenders to temporarily pause new mortgage lending in the past two weeks due to unprecedented demand.
This demand has also provided great benefit to Landlords who have seen a 14.3% increase in rental growth in the last 12 months (Nationwide) and a 12.4% increase in the value of their property to April 2022 (ONS). What’s more, the coveted estate agent Knight Frank forecasts 17.1% rental growth in the next 5 years.
With the Buy to Let market thriving, this is a great time to consider investing in property or securing long-term competitive rates on your property portfolio. We have access to a number of buy to let mortgages, ranging from first-time landlords to LTD company products.
If you would like to discuss options available to you, speak to a member of the team or our senior broker, Danny O’Keeffe on 0208 364 3444 alternatively schedule a call back by clicking on the button below.
| The popular Help to Buy: Equity Loan is closing on 31 March 2023. This is a government scheme for first-time buyers and home movers. It provides a loan, called an equity loan, that goes towards the cost of buying a new build. The Government lends between 5% and 20% (or 40% in London) of the market value of the home. Get in touch with on 0208 364 3444 to learn more about this mortgage product. |
| A leading economist has warned that the Bank of England (BoE) could increase interest rates by another 0.5% to 2.25% at the next Monetary Policy Committee (MPC) meeting. The warning comes as the number of job vacancies fell for the first time in two years, while ‘real’ pay was also hit as the cost of living crisis deepens. |