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Increase In Rents Reported |
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(1st May 2008)
Buy to let mortgages could prove lucrative, as Paragon report an upwards trend in demand for rented property.
The news means there has also been an increase in the average rent, despite the credit crunch, with average annual rent now £12,041 in March, up from £11,866 in February.
Director of mortgages at Paragon John Heron explained: "The professional end of the market remains committed to buy to let over the long term. They typically hold their investments for a decade or more."
He added that the trend was set to continue, which could benefit those looking for the best mortgage deal for a property to rent in the near-future.
Meanwhile, Paragon also recently revealed that the buy to let market was dominated by professional landlords, adding that those with a buy to let property tend to keep hold of their asset for an average of 17 years.
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News brought to you by Start Again Finance, specialists in bad credit mortgage advice, loans, credit cards, savings and insurance |
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