Long-term landlords ‘can still prosper’
Serious landlords can take advantage of lenders’ desires for good quality business and thereby make strong returns on their property investment in the current market, the Building Societies Association (BSA) has asserted.
The BSA has said that there is still money to be made within buy-to-let on account of the continued demand for rental accommodation, but warned against investors entering the market for this reason alone.
Landlords should ensure that they are not looking to buy property in areas where the rental accommodation market is already “swamped” with supply, the BSA advised.
“It is all about the lenders making sure they lend to people that have done their sums,” advised Neil Johnson, PR policy manager at the BSA.
“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.
“They just need to be careful they aren’t buying in areas where the market is swamped. As long as they do that they will be alright,” concluded Mr Johnson.
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