Getting landlords into tip-top shape

Bad news has struck the buy to let market as Lloyds TSB the biggest mortgage lender in Britain has announced that they are halving the amount that they will lend to landlords. Previously Lloyds where lending a limit of £6 million for up to 18 properties, now this has halved to £3 million with a limit of 9. This has come as a surprise and a massive blow to landlords as recent figures have shown that the market is turning around.

If there has been any time for a landlord to increase their portfolio, it is now, with huge reductions on house prices across the UK market, landlords now have the option to reap the benefits. It is almost impossible to open a newspaper or go online without seeing an article with figures showing how house prices are still low and how landlords are saving hundreds of pounds as the demand for let property is high.

The best advice that could be given at this time would be to keep hold of your property and use the wait and see approach. While house prices have risen 7.8% since March they are still down 13.9% of their peak in 2007. Many people still believe that they are still going to fall. This does not mean that we are stuck in the recession, there is still hope, property may be the way in which we can lift the UK back on its financial feet.

Insure My Let property is a site designed specifically around landlords needs providing you with the very best let property insurance in the UK market.

September 23^rd 2009

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