I have to admit I have had my worries.  I 100% believe in buy to let as my future.  I know regardless of what the economy is doing, my health or my energy levels my portfolio will ALWAYS provide for me.  That's why I got in to it in the first place!

 

However as an industry I was worried.  It seemed that buy to let was getting bashed from all angles.  Property prices dropping, increased regulation, availability of finance etc.

 

There was a small period of time when I thought Oh My God, we as a nation are going to end our love affair with property investment!  If anyone is in the industry and is going through this very thought pattern let me tell you:

 

It is OKAY!

 

We are predictable as hell.  We love property.  It is in our blood.  Whether you are born and bred here or recently settled here the bug hits you.  Property ownership is so ingrained in our culture that even one of the most historic recessions and property dip in recent history we still want to buy property in greater numbers than our neighbouring countries.

 

The internet is an amazing thing.  Over the last 5 years online comparison sites for mortgages have become the broker of choice.  The great thing about these sites is their reports.  They kindly give us information from what they see at the back end.

 

Regarding buy to let they say that now 1 in 10 enquiries are for buy to let mortgages.  So there is no slowing of demand there.  problem is availability.  But here is another comforting point.

 

British business is one of the best in the world.  Big british businesses listen to demand and satisfy that demand.  That is good business.  You follow the money.

 

The money is buy to let mortgages.  Hey big banks can you here me.  I will say it again:

 

The Money is Buy To Let Mortgages.

 

I am not sure they can hear me but they can definitely hear the thousands of you filling out those online mortgage forms and ticking the buy to let box on that form!

 

So as one banking group restricts their exposure to buy to let across the board as they cocked up their business (I will mention no names but we all know who they are) plenty of other lenders will spring up.  I do not think we need to wait till the new year either.

 

So this is my message to everyone who reads my newsletters:

 

Do not give up hope. We can all build our own portfolios.  Property ownership is too part of our culture to go away.

 

Speak soon.

 

Ajay

Posted on: 17th Sep 2009