UK buy to let activity sees boost
Remortgages have increased
Property valuations for buy to let landlords have surged significantly this year, according to recent reports.
New data has shown the number of buy to let valuations have increased by up to a third in May when compared to figures from the previous year. The data also showed a 31% annual increase in valuations for remortgages.
When looking at month-on-month statistics, buy to let valuations were up 3% compared to April figures and remortgage valuations were up 9%.
The news follows on from a reported house price boost across the UK following on from the election. The increase in activity is thought to be as a result of a healthier and more sustainable market following on from a new Conservative majority government that was elected back in May 2015.
comments from sequre
Graham Davidson, Managing Director of Sequre Property Investment, comments on the boost in buy to let:
“The increase in valuations has been quite significant given the time frame. This may be a result of investors remortgaging their own residential homes in order to release capital to fund buy to let investments. Due to a stable Government now guaranteed for the next five years, landlords are able to utilise their property investments without worry of any major changes.”
“It’s encouraging to see the faith that has been brought back into the property market so quickly and will no doubt continue to rise. The figures represent a confidence in the UK market that felt uncertain pre-election. From house prices, mortgage lending, valuations and remortgaging, we are seeing growth across the board. More and more individuals are turning to buy to let as a means to supplement their retirement income and, thanks to the pension freedoms, those over the age of 55 can look to property to get the best possible returns from their savings.”
If you've been considering a buy to let investment, contact Sequre today. Our team are professionals in the industry and can guide you through the buy to let process and talk you through your objectives to help you reach your financial goals. We source properties from all over the UK and specialise in negotiating bulk deals at discounted rates. We can also recommend mortgage brokers who specialise in buy to let. Whether you’re looking for a mortgage or are considering refinance to fund a buy to let purchase, call us on 0800 011 2277.