UK Property – Buy-to-let Trend

The year 2007 saw persistence in weakening of people’s affordability in terms of buying property in UK. Reports say that over the course of year 2007, affordability of the first-time property buyers continued to deteriorate with gross lending growing by five per cent.

The buy-to-let trend in UK property however has strengthened manifold over the last few years. With demand outstripping supply in case of family property, the buy-to-let market has been gaining so much potency that the National Statistics Office has termed it as an industry. It’s no surprise that UK’s buy-to-let industry has experienced one of the fastest growth rates over the last decade. The growth pace of this industry hasn’t slackened but only boomed with the passage of time. In some cases, the rates of buy-to-let property even appear to be beating the standard UK mortgage.

The continuous fluctuations in UK real estate didn’t affect the buy-to-let landowners who remained calm and confident throughout the period. According to some reliable sources, an average property investor owning ten properties in 2000, is now the owner of thirteen and plans to extend their portfolio. According to surveys carried out by Association of Residential Letting Agents (ARLA), a whopping percentage of buy-to-let investors did not show a short-termist approach by having no plans to sell their property even if the prices fell, in which case, they would rather wait for the market to return to more favorable conditions.

Moving to UK

Moving to a new neighborhood can bring you some really overwhelming challenges. The thought of relocating to a new country hardly ever comes without worries associated with the ‘change’: Employment, accommodation, education, and a whole lot of other adjusting issues such as new banks, new doctors, and not least, a completely new society where you can feel left out at the beginning. Beforehand preparations will save you a lot of time, money and stress in the end.

Moving to UK is no different than moving to any other country. It’s important for you to be well aware of the country’s dynamics, geography, culture, society, employment opportunities and residential options before packing your bags for UK. Heading for a big country that UK is, comprising Northern Ireland, Scotland, and Wales, you have to choose your settlement destination way before you pack your bags. While selecting a settlement destination, bear in mind some important factors such as cost of living, strength of job market, affordable accommodation, and also the weather patterns.

Make sure to have money enough to bear the inescapable expenses associated with moving to a new country. The first few months can be hard on both you and your pocket. Without a credit history in UK, you’ll most likely pay up front for most things. Renting good quality housing is quite expensive in UK, but rental prices vary from location to location. For those foreigners who can afford, buying a house in UK has become easier than ever. But before deciding to buy a house, it’s recommended that you rent a house first and get to know your neighborhood better.

All done, the one thing that remains is adjusting to the new environ. New place, new culture and new attitudes may become a challenge for you, your family, spouse, or a ‘significant other’, and all it takes is some getting used to. Hopefully, a couple of months will be enough for you to assimilate and enjoy a new pattern of life.