Looks like the banks are tightening their criteria when it comes to lending on Buy to Lets - expected really. I’ve heard recently that some are now not keen to lend on some city centre new build developments which are currently on offer because of an expected drop in the capital value of the units between now and completion. They’re also looking for deposits of up to 25% as opposed to the more usual 15%. Well established residential areas with good transport links to the city are still good buys as long as the rental income covers all of the outgoings. Try and get one in good condition and ideally with some good furniture included. It’s a good time to push for a bit of a bargain.
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