Why Get a 100% Buy To Let Mortgage?

If you think you’ve missed the boat on the buy to let mortgage frenzy which swept through the market like a sandstorm over the last few years then think again. You can still find a few brokers doing 100% buy to let mortgage deals on the high Street but admittedly they are few and far between these days.

With the real estate market taking a serious tumble over the last 12 months and with things still plumetting quite dramatically, now is a desirable time to plan for the next investment. Timing your investment properly could lead to making substantial proceeds in the medium term.

We have seen a kind of no holds barred situation for close to 10 years, at least in Great Britain. The housing market has seen amazing growth which has lulled many people into a false sense of security.

Those who came to the party a bit late and arranged their 100% buy to let mortgage are now feeling the pinch accutely. In fact many people are experiencing the horrendous negative equity situation where their remaining mortgage has a greater value than the value of their property and rental earnings do not cover the mortgage repayments.

For these unlucky ones the bubble has well and truly burst! No wonder we are seeing more and more repossessions. But this had to happen. This unprecedented growth could not carry on indefinitely and a correction has been expected for some time. Perhaps it is one of the reasons we are seeing large numbers of people looking for positions doing free online data entry jobs in the comfort of their own home. But that’s another story!

It’s favourable news for those of us who are delaying our next move ready to snap up some top deals which will no doubt come onto the market. In fact for first-time buyers the times ahead are looking quite rosy and we will certainly see more brokers offering 100% first time mortgages when the market is ready.

So be patient, watch the market like a hawk and make your move when the time is right. Do it properly and you’ll be sitting pretty for many moons hence.