Still Booming In These Times Of Bust?

Nov. 19, 2008 - PRLog -- Despite these difficult financial times, the buy to let market appears to be bucking the trend and growing, albeit slowly, amidst the current credit crunch fears. According to a recent housing marketing survey* by the Royal Institution of Chartered Surveyors reports that buy-to-let investors are entering the market to take advantage of rising rents and equally that ‘predatory buyers’ are looking to bargain for reductions in a falling market.

Says Alistair Millar, partner at Tallents,

“We are seeing evidence of this information in our day to day business as we are still being approached by clients wanting to purchase property to let out. Despite a fall in residential house purchases people still need somewhere to live and are turning to rented property. Landlords are keen to take advantage of this increased tenant demand.”

It seems that general concerns about the credit crunch are causing first time buyers, and other home buyers, to delay their purchases but in the meantime they still need somewhere to live and the buy to let market is filling that gap.

Alistair continues,

“In addition many homeowners, who would like to sell but can’t get the price they want or need, are renting their own properties out so they can sit out the current financial storm. In these cases we have been providing advice to clients with regards to tenancy agreements and legal requirements.”

This observation is supported by recent research** from The Association of Residential Letting Agents, whose agents have reported that there is an increase of houses coming onto the rental market because they can’t be sold.

Alistair finishes,

“Tallents has been helping and advising clients in Nottinghamshire for nearly 235 years. We have a wealth of information that we can provide for anyone who is considering letting their property.”



For more information, contact Tallents


3 Middlegate, Newark, 01636 671881
2 Westgate, Southwell, 01636 813411
28A Westgate, Mansfield, 01623 666700

www.tallents.co.uk


*    Source: RICS Housing Market Survey June 2008
**    Source: ARLA Third Quarter Review and Index 2008

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ABOUT TALLENTS

Established in 1774 and with offices in Newark, Mansfield and Southwell, Tallents Solicitors services the legal needs of private individuals, company and commercial clients and farmers in North Nottinghamshire and Lincolnshire.

We still offer a personal service to our clients and our size and structure ensures that partners are never remote from our clients. We provide a full range of legal services and our expertise covers all areas of law including:

Agricultural law, criminal law, commercial and domestic property transactions, inheritance tax planning, trust and estate administration, wills and probate, commercial and general litigation, employment law, company and commercial law, intellectual property, matrimonial and family law, personal injury claims and children issues.

Visit www.tallents.co.uk for more information.