Brokers cheery on buy-to-let outlook

Posted: 04 Jan 2007 10:50:05 GMT


            Property News - Brokers cheery on buy-to-let outlook

Almost 70 per cent of mortgage brokers expect the buy-to-let market to continue expanding over the course of 2007, research for the Mortgage Trust has found

Almost 70 per cent of mortgage brokers expect the buy-to-let market to continue expanding over the course of 2007, research for the Mortgage Trust has found.

Almost two-fifths of those with a positive outlook said that they expected market growth of at least 25 per cent over the course of the year.

Expectations have been considerably improved on the same period of 2006, when 44 per cent of brokers expected volumes to rise.

Tenant demand and new mortgage products were the most frequently cited drivers of growth. The chance of further interest rises was cited as the biggest threat.

"Buy-to-let brokers are extremely optimistic about 2007, and they have good reason," said Nicola Severn of the Mortgage Trust.

"Although further interest rate rises may be a reality in 2007 the vast majority of buy-to-let borrowers will not be deterred from looking to expand their portfolios." 

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