Repossessions 'good news' for next gen BTL investors

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A new generation of buy-to-let investors could benefit from rising interest rates and the increasing number of repossessions that have resulted, according to My Mortgage Direct.

The mortgage broker claims that some buy-to-let investors who bought property several years ago paid over-inflated prices and will likely have to sell their property at a loss. Cath Hearnden, director of My Mortgage Direct, says: “Following the recent interest rate rises we have seen an increase in enquiries from purchasers of investment properties being offloaded by owners who can no longer afford to keep them.” During what My Mortgages Direct describes as the ‘buy-to-let boom’, three years ago, some investors paid high prices for new build properties. In a low interest rate environment ...

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