But to let, or buying a property then letting it out, has been a popular option for many would be entrepreneurs over the past 10 years or so. The buoyant housing market has allowed many people to buy a house, then use the rent on it to pay off the mortgage while the capital investment increased as the overall UK economy grew. Due to the fact that the economy has been in good shape over the past 15 years, banks were offering 125% mortgages at very attractive rates. However, as the housing market has slowed, so has the buy to let frenzy, as a potential investment for a lot of people. As liquidity in the banking system has seized up, the number of specialist buy to let mortgages available has declined to virtually zero today.
The buy to let market in the UK has grown hugely over the last 10 years, however things do not always go to plan. It may be difficult to find any tenants, or replace tenants who have left. Maybe the latest rise in interest rates has made buy to let unprofitable?
If you can’t let your property or the rent doesn’t now cover the mortgage, your property is costing you money and you’ll want a quick sale – this is where house buying companies can help.
How can house buyers help? House buyers will purchase your house for cash, quickly – often within 7 days.
By selling your property direct to a house buying company, you avoid the possible lengthy delays, and associated costs, of selling on the open market.
How does it work? It’s simple.
There is no cost or obligation in receiving an offer.
What are the benefits of using a house buying company?