Insurance News Archive

Winter 'a good time' for buy to let insurance customers

Written by Jonathan Walker

Winter may be a good time for buy to let insurance customers to purchase a property, according to one expert.

Katie Tucker, technical manager at Mortgageforce, pointed out that the property market normally "seizes up" at this time of year, so it may be likely that homes fall in value slightly.

"Traditionally, they fall in value now for November, December and January and then it doesn't pick up again until spring, so it might be a good time for buyers," she explained.

Ms Tucker added that the stamp duty holiday is likely to be a factor in whether people buy homes or not, as even though it is unlikely to stop buy to let insurance customers from purchasing a property, they may wait to see whether the relief will be extended before committing.

Her comments came after the British Bankers' Association reported that there were 42,238 new mortgage approvals in October 2009, up from 42,073 in September and up by 97.7 per cent compared to October 2008.

25 Nov 2009