'Now's the time' for landlords to buy property

Posted: 07 Sep 2009 13:26:39 GMT

For landlords with money, now is the ideal time to purchase buy-to-let property, it has been suggested.

Michael Aglony, marketing manager at independent mortgage expert Mortgages for Business, said that September is going to be a busy month in the property investment world.

"Arrears in the buy-to-let market are down and the decline in lending has also decreased, so it is becoming more positive rather than negative," he explained.

Mr Aglony also suggested that landlords who invest wisely are able to ride out recessions because people will always need a place to live.

His comments come after the Council of Mortgage Lenders released a statement at the end of last month which suggested that the decline in the buy-to-let market slowed down during the second quarter of 2009.

The organisation indicated that the sector had stabilised after a number of months of low mortgage approval figures and widespread unavailability of finance.


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