Summary
Beware the arrears trap. In a tenants' market, buy-to-let investors need to be realistic about rent and find the best possible mortgage, says Lorna Bourke ' AS PROPERTY prices have risen, and rental yields have stagnated, it is hardly surprising that enthusiasm for buy-to-let investment is slowing.
Latest figures from the Council of Mortgage Lenders show that new lending in the second half of 2004 was an estimated Pounds 9.8 billion. This was 18 per cent less than the Pounds 12 billion recorded in the first half of the year, and 16 per cent down on the Pounds 11.6 billion lent in the second half of 2003.See the full content of this document
Extract
Feeling the Pinch
Estate agent Savills calculates that gross yields on rental properties have fallen to 6.1 per cent nationally, and 4.8 per cent in London. After expenses, such as agents' fees, maintena...
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