At Andrew Lees, we aim to offer support and guidance for local landlords. We know the current rental market is challenging, but with our help, we believe Bridgwater landlords can connect with tenants, and let their rental accommodation successfully.

If you are looking for help in this matter, please get in touch and we will be more than happy to support you. We know the local letting market well, but we also stay in touch with the national rental market. Also, we stay up to date with the latest research.

Professionals are looking on the brighter side of the BTL movement

While many people are struggling to maintain an optimistic outlook regarding the buy-to-let sector, figures provided by Paragon Bank at least offer cause for optimism. There is a desire for the buy-to-let market in the United Kingdom, and brokers believe they will do more business in the 12 months which lie ahead.

Paragon Bank commissioned a study of UK mortgage brokers, which revealed the following responses:

  • 41% of respondents expect BTL business to increase in the next year

  • 28% of respondents say they expect BLT mortgage demand to remain stable

Richard Rowntree is the Managing Director of Mortgages at Paragon Bank and he said; “Despite the buffeting that coronavirus has caused to the mortgage market, and housing sector more broadly, there is clearly still strong and stable demand for buy-to-let via intermediaries, which is reflected in the results of this survey.”

Richard continued by saying; “We have seen a solid rebound in buy-to-let business since the housing market reopened in mid-May and landlords have been unlocking capital to invest and grow their portfolios further. We expect to see increased demand for rented property underpinning growth in the coming months as people delay house purchase or cannot obtain a mortgage with the removal of higher loan to value products in the residential market.”

Richard also said; “Coronavirus has had a clear and damaging impact on the economy and the UK as a whole, but the long-term fundamentals underpinning demand for buy-to-let remain unchanged. The UK has a growing population with increasing numbers of households and the private rented sector will provide a good quality home for many of them.”

The UK rental market has grown

Government figures suggest the size of the rental market has risen by 1.7m households in the past decade. There has also been growth in the number of people living alone. For 2018, more than eight million people resided alone, and there is a suggestion a significant proportion of this group live in rental property.

Also, there has been an increase in the number of people in Higher Education, and the majority of graduates reside in rental accommodation.

As an experienced letting agent serving the Bridgwater community, and many of the surrounding areas, we are here to help. We promise to stay in touch with the latest technology, helping our clients to achieve more, and we aim to support the local community as best we can. If there is anything, we can assist you with; please contact Andrew Lees Lettings today.