Families relying on renting to keep then afloat.
As everyone is aware the housing market has almost come to a stand still in wake of the credit crunch. Lenders are becoming very selective to who they give loans and mortgages to and people trying to sell their properties cannot find buyers, and due to the current issues loosing about £22,000 on their properties due to the fall.
This seizure in the housing market is forcing families to let their properties and go into let accomendation themselves.
The rental demand has grown over the last 3 months bringing the record level to a ten year high. The three months upto July have gone up to 43, which is on the up compared to the prior three months at 30.
Due to the increase in the rental market tenants are getting more choice to where they are living which could have a major inpact on the let market.
News brought to you by www.insuremyletproperty.co.uk, For all your let property needs.
August 20th 2008
- Woolwich cuts rate on BTL mortgage range
- Small falls in rates won’t help the housing market
- Let property investors benefiting from the credit crunch
- Investigation into Instant Access Properties Ltd (IAP)
- Housebuilders desperate, but not that desperate it seems
- Merger creates largest landlord association in the UK
- B and B still to pay for unsuccessful deal
- Prudence is the key for buy to let investors