Mortgages Uncovered

Those property owners who have got themselves saddled with multiple buy to let mortgages are going to be given the chance to capitalise on the low house prices during early 2009 suggests a recent survey.

Cluttons are a London based estate agent who has predicted that London’s property prices will be set to moderate during the course of the New Year due to sellers becoming more realistic regarding their asking prices.

Cluttons also claims that the house prices in England’s capital may well ‘bottom out’ during the early part of 2009, which is being predicted as the trend that will pave the way to those investors returning back to the housing by trying to snap up a bargain through buying properties before the housing market starts its recovery.

Head of residential agency, Richard Cluttons stated:

“This is particularly true of multiple buy-to-let landlords with equity in their portfolios, who want to take advantage of low prices and cheaper mortgages as a result of their strong equity position.”

The plummeting house prices and additional interest rate cuts has already prompted an influx of buyers back to the property market in December, according to a recent survey carried out by Rics.