Buy to let portfolios set to expand according to mortgage expert
Belvoir Letting Agents Wolverhampton were pleased to see this article appear within the Letting Agents today news web site. Whether strange or bizarre? the team had discussed this week that a few, albeit not many, landlords had held discussions raising the same prospect with regard to preparing for ‘opportunity and change’ preparing their war chest!
Covid 19 has certainty brought change to the market and undeniably forced everyone to rethink working practices for the way we normally do things. However, the team at Belvoir Letting Agents Wolverhampton which manages property across the city to include Bilston, Willenhall, Perton and Featherstone are reporting that the rental market following the easing of lockdown arrangements is already very buoyant, in fact hectic.
Given our personal experience allied with the news / prediction below, then the news for professional landlords can be nothing short of a real eye opener. (Rabbit in headlights springs to mind)
The news taken from letting Agents Today
Landlords who are re-mortgaging are currently doing so primarily to build a war chest.
That’s the view of mortgage brokerage Mortgages for Business, which says some 30 per cent of property investors are now taking out a buy to let re-mortgage with a view to expanding their portfolio and growing their cash reserves.
The broker’s research also indicates that 46 per cent of landlords are increasing the size of their loans – significantly higher than the long-term average of 38 per cent.
“Our research suggests the number one priority of active, professional landlords is to set themselves up with a war chest so they can look for growth. Smart landlords know that the time is coming to bag some bargains and start expanding portfolios. Increasingly, that is where their re-mortgaging priorities lie” says managing director Steve Olejnik.
See the full article by clicking on the link below
If you’re a landlord looking to purchase additional properties for your portfolio or looking for tenants for current properties within Tettenhall, Essington or Perton then contact your local team at Belvoir Letting Agents Wolverhampton on 01902 267111