Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 4 weeks ago 47
The new rules that come into force regarding the ability to release cash from pension funds will have a huge effect on the BTL market. A rush of first time novice investors wanting buy up anything within budget will push prices up even higher and certain sectors ie flips, will be even harder to come by. It will also affect rents as you could find these decline as competition increases.
My local auction told me today they have seen a 78% increase in interest over the past 2 months and this was borne out at my latest auction where there were double the number of usual viewers.
My biggest worry is the number of Charlatons who will enter the market and offer services from sourcing properties to finance and the way the emails have already started to come through suggests the sharks are gathering.
Finally in my rant….leave it 18 months and this will be another PPI scandal and within 5 years there will be a flood of properties back on the market from failed landlords with the corresponding price falls.
Tricky times ahead?
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