The new guarantee scheme introduced by the government allowing people to take advantage of Mortgages up to 95% is having a knock-on effect in the buy to let market with Landlords reporting that they are losing tenants.
The Online Agency, Accommodation, questioned landlords and found that 17.6% or approx. 1 in 6 landlords have lost tenants taking advantage of the scheme.
More tenants are looking at buying a property with the combination of the 95% Mortgage scheme, Stamp Duty Holiday and the relaxation of lockdown.
This is leading to competition for properties, driving up prices and reducing the availability of investment properties.
The property market outside of London has been incredibly resilient over the past year and that trend looks set to continue. London saw modest rises of 1% in capital values but areas such as Liverpool have seen 10% rises.
We’ll see what the next few months bring.
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