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Monday, March 03, 2008

Buy-to-let market

When most lose money is the time smart people make a lot of money.
Was ever in the last years a better time to buy a house and making a mortgage?
Inflation goes up, while the interest rates go down.
Which is quite unusual.
The normal scenario is interest rate on money going up with high inflation.
What will that bring?
A lower value on money, that means you will need more to live and of course MORE TO BUILD.
Which means houses' price WILL go up in the near future.
So, why not buying a house and making a mortgage?
You risk that you will own something worth much more than what you will have to pay.
And how to pay the mortgage?
They say the Buy-to-let market is going strong.
It increased by 23 per cent last year to 1,038,000 and represented 10.3 per cent of all mortgages, according to the CML figures.
This kind of investment now accounts for one out of every five mortgages which are taken out in order to buy a new property.
The only thing you have to consider if following my advice, in making Mortgages to buy a house to let, is the location of it.
Do you intend to rent it permanently or, if you have some spare time, as a weekly vacation house?
Depending on the use you want to do of it, there are better locations and better kind of houses.
Just remember, not ALL houses ARE the same, even when they look the same...
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