Buy-to-let properties 'increasing in value'

22-Dec-2006

The aspiring first time buyer may wish to consider buy-to-let property, with new figures showing that the average residence bought for these reasons has risen in value.

According to mortgage provider Paragon, buy-to-let property has increased in value by five per cent during the last 12 months, which could be of interest to a first time buyer considering his or her options.

Furthermore, with the Treasury predicting a higher rate of immigration over the next three years, demand for rented property could increase further still.

Nigel Terrington, chief executive of buy-to-let provider Paragon, remarked: "In terms of capital appreciation alone, the average buy-to-let investor has made over £7,700 this year just by owning a rental property.

"On top of that, he has generated almost £10,000 in rental income, an excellent total return on investment of £17,700 or 11.4 per cent over the past 12 months."

He added that this year has been a good year for "most buy-to-let" investors.

Research conducted by Penrose Financial Public Relations last week indicated that 84 per cent of mortgage brokers are predicting an increase in buy-to-let lending during 2007.

To find out more about all the different and creative and innovative mortgages designed specifically for first time buyers click here.

To find out how to get onto the property ladder by buying to let somewhere else click here.

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