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Mortgage situation boosts renting - buy to let mortgages

Published: 9.5.2008

Further evidence has emerged that the credit crunch is having a beneficial effect for those with Buy to Let Mortgages and other landlords.

Research by price comparison website Moneysupermarket.com has established that since October 2007 the number of people renting in Britain has grown by five per cent, Property Wire reports.

This has been due to the difficulty faced by first-time buyers trying to get on the housing ladder.

Eleven per cent of respondents said the cost of repayments or the size of deposits had prevented them getting on the ladder.

The buy to let industry appeared to have taken a knock recently when property firm Inside Track went into administration.

However, Chris Horne, editor of investor magazine Property Hawk, said the company represented "the pinnacle of short-term property speculation" and the market had simply changed from short-term gain to long-term investment based on finding bargains.

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