23
Oct
'No surprise' that landlord portfolios are increasing
It is no surprise that many landlords are seeing their portfolios
increase, according to one industry expert.
David Amstell, a spokesperson for Briffy.com, explains that when
the housing market was in good shape, mortgage brokers were
encouraging people to purchase buy-to-let properties and flats for sale in Coleford.
However, when property prices began to fall, newcomers to the
business could not keep up with the mortgage payments.
As a result, those who have more experience in the market were able
to take advantage of the situation, Mr Amstell continues.
He says that "there are lots of professionals out there that have
got a bit of money in their pockets and they have taken advantage
and scooped up the bargains".
His comments follow news from the Association of Residential
Letting Agents that the average number of
properties owned by a landlord has increased from 6.3 to 7.0 in
less than a year.