UK BUY TO LET INVESTORS TAKE ADVANTAGE OF US CREDIT CRUNCH, AS FLORIDA LONG TERM RENTAL MARKET INFLA
Added: (Tue Dec 11 2007)
Pressbox (Press Release) -
UK investors are shifting their concentration from the traditional holiday home market in Florida, as the tightened up domestic mortgage industry creates a boom in the long term rental market.
Savvy investors who have traditionally conducted their business in the UK buy to let market are now looking for an alternative due to the recent drop in house prices. The current US buyers market and exchange rate means that the equally mature and highly regulated industry in the US seems to be the perfect alternative.
The recent credit crunch has forced the US mortgage industry to tighten the requirements when lending to their domestic clients. This has resulted in domestic home buyers struggling to meet the criteria to borrow, and they have no other option than to continue to rent. This is what is now fuelling and inflating the demand for long term rentals.
While the holiday home market is also booming due to the current situation, the US industry is noticing a sharp increase in a new breed of UK buy to let investors who are intending to move their business model to foreign shores.