The buy-to-let sector is booming as the credit squeeze makes it more difficult for first time buyers to get on the property ladder, according to Your Move.
Your Move says the number of leases beginning in January and February has risen 21% compared with the same period last year. Your Move says tighter credit conditions have prompted many to continue renting, creating a rise in tenant demand which is set to continue. David Newnes, managing director of Your Move, explains:” First time buyers with little or no deposit are finding it virtually impossible to secure high LTV mortgages – the days of 125% mortgage are long gone. But frustrated wannabe first time buyers still need a roof over their heads - and buy-to-let is filling the gap. The ...
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