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University Town Buy To Let 'still Worthwhile' |
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(14th April 2008)
Investors considering a buy to let mortgage in a university town should not be affected by the large numbers of houses in multiple occupation HMOs, according to the Association of Residential Letting Agents.
Although there was a saturation of the market, spokesperson Malcolm Harrison explained that other factors meant those looking for the best mortgage deal could still get a sound investment.
Mr Harrison explained that buying a HMO led to different issues than buying a smaller buy to let property.
He said: "A typical buy to let investor doesn't want to go through all of the hoops that you have to go through to get an HMO, it's much more for the professional."
It has been reported that the number of HMOs has now reached 2.5 million, leading to a government review of their management, led by housing and planning minister Caroline Flint.
To qualify as an HMO, properties must be rented to three tenants or more, who form at least two separate households.
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