Now could be a great time to become a first-time landlord
If you have ever considered building a property portfolio as a landlord, now could be a great time to start your journey.
Information from a market-leading property portal indicates rents have risen at the fastest rate on record, and tenant demand has almost doubled. At a time when interest rates on traditional savings accounts are low, many believe it is a good time to invest in the property market. *
Lenders are evidently committed to supporting prospective landlords. A recent report from a popular money comparison site revealed there are currently 2,235 mortgage products on offer to first-time landlords, an increase of more than 70% than the same time last year.
A huge 64% of available buy-to-let mortgage products are catering to first-time investors and rates are attractive, allowing landlords to protect themselves against future rate rises by locking into a good deal with a fixed-rate mortgage. The average two-year fixed rate mortgage for a first-time landlord is currently 3.19%, rising to 3.47% for a five-year fixed product.
If you would like to explore buy-to-let properties and mortgage products which could lay the foundations for your property portfolio, call us today and talk to one of our team members.
10 Spencer Court, Corby, Northamptonshire, NN17 1NU
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15-16 Market Place, Kettering, Northamptonshire, NN16 OAJ
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63 High Street, Market Harborough, Leicestershire, LE16 7AF
Mon-Thurs 8:30am-6:30pm Fri 8:30am-6pm Sat 9am-5pm Sun Closed