Buy-to-let mortgage conditions 'improving'

Landlords in search of new properties to add to their buy to let portfolio will find mortgage conditions are improving, one expert has said.

Perran Cooke, mortgage consultant at Countrywide, emphasised that the primary consideration when making any purchase, however, should be the location.

"I am finding that in the city centre of Manchester, a lot of people are buying around the £100,000 mark and putting around £25,000 to £30,000 down, so the rental yield is still nice and strong," he explained.

Mr Cooke also indicated that people need to think about who their property is likely to appeal to, whether it is students, professionals or some other demographic.

Citizens Advice recently advised landlords to make sure their houses are not allowed to get into a state of disrepair, as this can lead to complaints from tenants.

Renters may find they have legal rights that require a landlord to carry out the repairs, the group emphasised.

Published on: July 8, 2011

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