Now is a "great time" to purchase a buy-to-let property, but landlords most remember that it is a long-term investment, one expert has claimed.
Simon Zutshi, founder of the Property Investors Network (Pin), explained that falling prices now mean that buy-to-let landlords should be able to pick up a bargain.
Mr Zutshi said: "So if you are getting into it, great - but because prices are going to be shaky for the next couple of years you are going to have to wait a long time for prices to come up - it's got to be a long-term investment."
However, anyone who is willing to wait and can afford the holding costs will find that now is a great time to buy a property, he added.
A recent study by Paragon Mortgages found that the average monthly income from a buy-to-let property increased to over £1,000 in March of this year. This is a 14.7 per cent higher than the same point in 2007.
A 'great time' to buy to let
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| mortgages news |
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