Property investors 'plan to expand portfolios' - buy to let mortgages

14 July 2009

Property investors may increasingly turn to buy to let mortgages in the current economic climate, with 22 per cent of brokers claiming property could be the best asset class for returns on long-term investments.

These figures, compiled by Exact Mortgage Experts, indicate that investors "have faith in the buy to let sector", according to managing director Alan Clary.

He explained that buy to let mortgage borrowers can be a "better credit prospect" than prime borrowers, particularly if the property is of good quality, Mortgage Solutions reported.

Furthermore, first-time buyers and those with poor credit records may find it hard to purchase property of their own amid the recession, meaning there is "money to be made" by landlords, he said.

Simon Rubinsohn of the Royal Institution of Chartered Surveyors commented recently that it may be too early to tell whether the housing market has bottomed out.

He made the statement following the publication of new Halifax data, which indicated that the average house price dropped by 0.5 per cent between May and June.

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