Now is a 'good time to invest in property' - buy to let mortgages

22 September 2008

Now would be a good time for buy to let investors who have money in the bank to purchase a house or flat, according to an industry expert.

Andy Smith, the managing director of investment firm 1st Asset, has claimed that despite the recent events in the financial market, now is one of the best times to buy property - providing you have the funds at your disposal.

He argued that the population for the south-east is predicted to grow by eight million people over the next decade - who will all need somewhere to live.

"That is a huge amount of people to find homes for in a very small area … we have got to house these people somewhere," he added.

The buy to let mortgages sector fared better than the rest of the market over the first half of 2008, as it declined at a lower rate than the wider industry, according to the Council of Mortgage Lenders.