27
Oct
Flats a 'safer buy-to-let choice'
Those looking to enter the buy-to-let market should look at
flats for sale in Plymouth and other areas,
according to one expert.
Lee Grandin, director of broker Landlord Mortgages, claims that
because they are at the lower end of the market, flats are a better
option than houses when it comes to entering the industry.
He believes that this is "what letting is all about" as it is
highly unlikely that there will be a sudden increase in demand for
large, four-bedroom properties.
However, he suggests that there will always be people wanting to
rent one or two-bedroom flats.
Mr Grandin's comments come after a recent Royal Institution of
Chartered Surveyors report suggested that there has been a decline
in the demand for buy-to-let flats.
He thinks this is because "the lenders have got significantly burnt
lending on over-priced new build properties, which happen to be
flats".
The report found that interest in rental flats fell by 15 per cent
in the three months to September 2009.