Downturn 'an investment opportunity' - buy to let mortgages

28 July 2009

The current economic circumstances are providing an opportunity for buy to let investors, reports the Times.

According to the publication, there are opportunities to buy into the rental market for those who time their move right for a particular area.

In Cambridge, for example, one IT consultant is letting out a flat in the city centre while living in a second flat in the same development.

Robert O'Brien spent £220,000 on one of the properties and £199,950 on the other.

But the chance to arrange buy to let mortgages and purchase properties at a similar price may have passed in Cambridge.

"I reckon I must have bought on the day the market hit the bottom here," says Mr O'Brien, whose rental property is now worth £240,000.

James Moore, a data consultant who is planning to emigrate to Australia, recently told the Times that he intends to retain a buy to let mortgage in the UK as doing so can prove beneficial for tax purposes.

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