How many of you reading this own more than one property? If we’d asked that question 10 years ago, we highly doubt that many would have responded “yes”. Today, though, we imagine the answer spread would be very different.
Whilst the BTL market has certainly cooled since the 3% Stamp Duty increase implemented in 2016, there is still a lot of opportunity for those looking to invest in additional properties. Many lenders now provide specialist mortgages, and with the number of renters ever-rising there are plenty of willing tenants.
With the growing trend of homeowners having more than one BTL property, there’s also a new spate of opportunities arising – using your BTL properties as a “soft start” to running a business. Whether that business be a full-on property renting business, or using existing paid-off property as collateral for a business loan to start the business you really want to run, the opportunity is there.
We’ve helped many clients find the finance they needed to purchase further BTL property. The market may not be in its heyday of 2016 anymore, but that just presents better opportunities for those who know how to take advantage.