23/04/2020
Opportunity knocks. If you are thinking of simply buying your first buy to let property or looking to refinance to get more, now could well be the right time.
We are having more conversations with Landlords gearing up to release equity so they are in a position to pick up properties at reduced prices when the coronavirus crisis has blown over. Is now the time to be thinking the same?
The purchase market has all but ground to a halt since the government put the country on lockdown and advised buyers and sellers to postpone moves where possible.
From what we understand, many landlords are expecting property values to take a hit when the restrictions are eased. Professional landlords are telling us they want to release as much equity as possible as they feel they are going to get property at knockdown prices.
We have seen a noticeable increase in But to Let conversations from existing customers as well as new ones about capital raising in readiness for the expected property bargain hunt. Being poised and ready to strike when the time is right is high on the agenda.
House price bargains after coronavirus?
It remains to be seen whether house prices will indeed fall after the Covid-19 crisis has eased.
Some agencies have predicted a small short-term fall, but it will very much depend on how long restrictions last and the shape of the economy coming out of it.
