Knowledge of market 'important' - buy to let mortgages

05 August 2009

Those taking out buy to let mortgages ahead of joining the property investment sector need to know the market well, it has been implied.

According to Tom Entwistle, editor of online landlord community LandlordZONE, the increase in rental arrears reported this week was due in part to inexperienced individuals getting involved in the industry.

Research agency BDRC indicated on Tuesday that 30 per cent of private landlords experienced rental arrears in the second quarter of 2009, which represented an increase of 18 per cent over a 15-month period.

"[This figure is] not really surprising given the severity of this recession and the fact that many new buy to letters entered the business largely on borrowed funds," Mr Entwistle remarked.

Involvement in the buy to let sector takes more than just armchair investment, he added, and some landlords are only just beginning to find that out.

Why not take a look at our best Buy to Let mortgages and make an enquiry online now.