My Finances have asked us to comment on their article concerning the latest figures for buy-to-let property repossessions.
Kristjan Byfield, director of Base Property Specialists believes that although there are positive signs of stable repossession levels this first quarter, landlords still need to be more pragmatic about how much rent they charge tenants:
While the buy-to-let market, as this data confirms, remains strong, it has in fact been fairly quiet over the past two months. The reason for this is that rents have hit their peak and many people are choosing to stay in existing properties rather than move and risk paying more. If landlords charge too much, in a market as competitive as this they will be rewarded with a void period.