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Sheffield Property > Latest News > ‘Increase In Buy To Let Mortgages Equals Big Opportunity’ Claims To Belvoir Sheffield

‘Increase In Buy To Let Mortgages Equals Big Opportunity’ Claims To Belvoir Sheffield

Posted on Saturday, 25 June 2011 10:00AM by belvoir via Artful Lodger
As recent reports, from the Council of Mortgage Lenders indicate a dramatic increase in the amount of landlords obtaining buy to let mortgages, Belvoir Sheffield the leading letting agents in Sheffield, are advising that now is a great time to buy.

The brand new figures demonstrate that buy to let lending totalled £2.9 billion across 27,600 people in the first quarter of 2011, a definite increase from the previous year’s figures of the same period.

These figures provide a positive indication that there is an increase in landlords successfully obtaining mortgages with many lenders starting to release brand new products in order to cope with the demand.

Rick Flay from Belvoir Sheffield, who specialise in providing flats to rent in Sheffield said: “Earlier this week one mortgage lender started offering 90-95 per-cent buy-to-let mortgages which demonstrates that there are some great deals still out there. With more landlords being able to obtain buy-to-let mortgages and with demand still outstripping supply, rental yields are at an all time high, making the process of renting out a property extremely profitable indeed.

“It has been no secret that property prices have been on the decline, but the size of the deposits required and a overall lack of lending is still restricting first time buyers, who are forced into renting a property, making it a great time for the residential landlord who can obtain a buy-to-let mortgage and expand their portfolio.”

Rick, whose lettings agency helps those wanting to rent property in Sheffield, continued: “If this increase continues, hopefully the criteria for buy-to-let mortgages will become looser, therefore helping landlords in need of a mortgage.

“Here at Belvoir Sheffield we offer FREE advice to any landlord looking to secure a Buy-To-Let mortgage, which is proving to be an invaluable tool for the first time or accidental landlord. Just a few clicks can give you an instant quote online.”

Belvoir Lettings Sheffield is the One Stop Specialists for Lettings including Property Management, Tenant Find, Investment and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs, Investment Property Insurances and Mortgages.

For more information, please visit www.belvoirlettings.com/sheffield

 
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