How to survive in today’s turbulent buy to let market?

Posted under General by Alan

Buy to let was flourishing largely because lenders were keen on relaxing their so-called stringent criteria, not even demanding a stipulated 30 per cent deposit. Now that the property market is witnessing a slide, banks have become picky and private lenders are getting choosy about the new customers.

Instead of panicking, it is a good time to check your buy to let portfolio to see whether you are making the most of it. By taking some simple steps, you can sustain and survive the property market slump.

Amidst all the bad news flow, there are some positive indications, to soothe your frayed nerves. It has been observed that demand for rented properties is still on the rise. In fact, according to a news report, average rents across the country have reached a new high over a decade. On the downside, the overall property market sentiment is slightly damp. With such contrasting signals emerging, the first key thing to do is put up your rent. Subject to your rental agreements, you may see scope for increasing the rent, especially if you can spend money on sprucing up a property.

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