The UK with its rising residents and a huge deficit of available housing faces a crisis. The deficiency of properties has pushed up house values beyond what people can afford in many areas especially the rural ones.
This has meant some people had to resort to renting instead. It’s usually much cheaper to rent; additionally for those that are planning to eventually buy; it gives them time to save for a deposit.
Why buy-to-let is growing
Today, peoples’ lifestyles have become ever more flexible. With most juggling in between work and study more frequently. For them, renting offers more flexibility than buying a house.
In 1988, the tenancy laws were reformed to allow property-owners to get their property back by simply giving adequate notification to the tenant. In 1996, special 'buy-to-let mortgages' for landlords became obtainable, making it much easier for investors to borrow money to buy property to let.
Successful buy-to-let depends upon: