"Vibrant" buy to let market anticipated

05-Jan-2006

It has been claimed that the buy to let market will remain strong over the coming year, suggesting that the sector could provide many aspiring first time buyers with an alternative way of getting onto the property ladder.

Click here to find out how to get onto the property ladder by buying to let somewhere else

According to Lee Grandin, managing director at Landlord Mortgages, the sector is likely to see some considerable growth over the next 12 months, although he warned that much could hinge on the decisions of the Bank of England's monetary policy committee in relation to interest rates.

Speaking to Residential Landlord, Mr Grandin commented: "We are currently seeing a vibrant market, which is being driven by high levels of consumer demand as well as the opportunity for landlords to borrow money relatively cheaply."

While warning that the market would be negatively affected if interest rates were raised, rather than cut as most experts are predicting, the good deals available to landlords means that it may be more tempting for many first time buyers to invest in a buy to let property before buying their own home.

Click here for advice on first time buyer mortgages or to find out how much you can borrow and how much it will cost you, from the UK's leading High Street Brokers, Bradford and Bingley

Mr Grandin also pointed out that, as the market becomes more competitive, mortgage lenders are more likely to launch even more innovative deals to attract potential landlords.

To find out more about creative mortgages designed specifically for first time buyers click here

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