Insurance News Archive

Money making from buy-to-let 'proving tough'

Buy-to-let investors can still make money from these properties but need to be "very careful" and make sure they get the right advice, it is claimed.

Tom Entwistle, editor at Landlordzone, an online portal for those seeking to let out property, says traditional landlords will still be making good money but acknowledges the situation is tougher for people "highly geared" with their mortgages.

He states it is difficult to buy with a mortgage at the moment and still make a lot of money from buy-to-let.

Mr Entwistle advises these property investors they need to be "very selective" about where and what they are buying.

He continues: "The types of property that tend to make money are terraced properties and the older terraced type properties which you can buy a bit cheaper and make money from."

Figures released by Your Move this month revealed a 19 per cent increase in the number of people renting properties in London compared to last year.

31 Jul 2008