Figures from an independent finance broker have revealed a 5% increase in the number of first-time buyers applying to purchase a property on a buy-to-let basis, rather than as a home to live in.
The shortage of properties on the market means the types of homes many people are looking for are simply not available to buy at the moment. By getting a foot on the ladder with a buy-to-let opportunity, lots of first-time buyers are choosing to invest in property, without the need for a house to be their home.
It has been estimated that 275,600 buy-to-let mortgages were approved in the 12 months prior to February 2022, which is the highest it has been since 2016.
If you are considering a buy-to-let opportunity as your first step onto the property ladder, get in touch for advice from our expert team HERE.