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North East's Buy-to-Let Boom-Sunday 28th of May 2006 10:15:37

Homes and Finance, one of Teesside’s fastest-growing estate agents and financial services companies, has revealed a major increase in the number of people interested in buy-to-let properties in the Tees Valley.

Their figures show a 300% {three hundred per cent} increase in people buying a property for rental purposes compared to this time last year.

The most popular areas include Yarm, Eaglescliffe and Ingleby Barwick with apartments, terraces and cottages proving to be the main choices on the buy-to-let market.

Jackie Bassett, co-owner and independent financial advisor at Yarm-based Homes and Finance, commented: “Many people are now coming to us for advice on the buy-to-let market- we have seen a huge increase since this time last year. We always stress that it’s important for people to have a clear aim for their investment- do they want to make a large profit some years down the line or is the property to provide an immediate high rental yield?

Whatever the position we can offer advice on the best property for the buy-to-let investor and also the best financial options whether that may be a mortgage or a re-mortgage.”

Dave Bassett, managing director at Homes and Finance, added: “We’re seeing a cross-section of people opting to buy-to-let for a number of reasons. Many have lost faith in pensions and are using property as a means to secure a future income. We’re also finding that people who may be forced to re-locate for work purposes are opting for buy-to-let as the rentals market in places like Yarm is extremely buoyant and this option provides a lucrative way in which to maintain a strong position on the property ladder.”

Homes and Finance is not only a buying, selling and letting agent but also provides mortgage, re-mortgage, pension, investment, savings and insurance services.

The family-run company launched with just three members of staff at its Yarm High Street headquarters in January 2005. In the last year the business has created a total of thirteen new posts and more than doubled its office space by opening an administration office at Urlay Nook Road in Eaglescliffe. Plans are now underway to recruit further and open another office later this year.

For more details about properties that are currently available log onto http://www.homesandfinance.co.uk/