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Renting ''a good option in London'' - buy to let mortgages

Published: 8.5.2008

In news which may interest those with Buy to Let Mortgages in London, it has been suggested that now is a good time to be renting in the capital.

Nicholas Leeming, director of property portal Propertyfinder.com suggested that for those in central London such an approach was a good way of starting a long-term process that would culminate in a house purchase.

He said: "I think that renting is not a bad option for people who want to live there and give themselves a bit of time [before buying a house] in the process."

Mr Leeming added that rental prices were "inevitably" high in central London as the level of supply was very limited and the amount of demand was high.

The attractiveness of renting in London may be boosted by the continuing issues of affordability in the capital.

Figures from the March Halifax House Price Index showed that the average house price in the metropolis rose by 1.6 per cent in the first three months of this year.

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